2nd Rental Financing in FL

[Christian Leon]

So a property I am interested in just came back to market as the buyer could not get financing. I quickly called my agent and told her I was very interested and needed a recommendation for financing as I did not want to go to my bank (BOA) since they are a nightmare to deal with. I got preapproved quickly as I have great credit and an exceptional D/I ratio. At first I was quoted at 4.5% which I said was unacceptable. They are saying they could do 3.875% with "manager approval". I am going to shop around more but was curious if this is in the norm for the area of Jacksonville. $160K loan, 30 yr fixed, 20% down in cash. Any feedback is welcome, as well as any tips that could be of benefit in my situation. There is a bit of a rush as the house will not be up for long, or I would have refi'd my current property to pay for this and not come out of pocket at all. But I have the cash and the numbers are right!