Current Mortgage Rates - House Hacking - Newbie here!

[Account Closed]

Hello, everyone.

We are under contract as of yesterday for what we thought would be our first investment property.  After contacting a mortgage broker, he's given me these 30 year fixed rates:

5% down primary residence will be 4.00%

15% down investment property will be 5.625%

20% down investment property will be 5.50%

25% down investment property will be 4.875%

We have A++ credit and no other debts except the mortgage on our primary residence.  We have enough cash for the down payment for any of these scenarios.  We were planning on selling our current home within the next 12 months to downsize as our youngest will be graduating high school in June so that is why the primary residence option is listed.  We didn't want to move out just yet but I guess we could put things into high gear to lock in the lower primary residence rate?  There are just some bigger projects that need to be done on our current home before we could rent it out or sell it.

Are these typical rates in the market these days?  We definitely don't know what we are doing concerning house hacking or buy and hold property but here we are.  After listening for months to podcasts, webinars, and reading lots of books, we wanted to jump in and now that we did, we are scared to make the wrong decisions.

What else should we be considering?