Better Lending Options? Am I settling for bad Rates? Morg # 13 Sing. Fam.

[Michael Hoover]

New to BiggerPockets and GRATEFUL for the knowledge! I am finishing up on a BRRR and looking for funding.

I have 12 Self remodeled SF homes completed in the past 2.5 years and loans in place with the following rates:

As you can see Rates are progressively getting higher and my current just-finished BRRR is in the process of being financed at 8.25!!

I can still make this cash flow although I am getting worried that I am settling for unreasonable rates?

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QUESTION:  Please inform me if these seem on par or if you all are finding better lending options!!??

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The first 6 of these loans were established through a local bank all as 5 year balloon.

         This bank became cautious once having 350-400k borrowed with no long term history to show my solidity (this was at about 1.5 years into my investing and only one tax return that showed only 2 properties producing in that year)

The following 6 homes I swapped to another local bank just down the street. Still all 5 year balloon loans. 

       This bank became nervous just recently as my 2022 tax returns showed profit of only 8 homes and I now have 12 loan payments. My Debt To Income is lagging behind due to somewhat rapid expansion.  

Now, I have began working through online lending options in the form of DCSR lending. I was quoted 8.125 with 2 point pay down. 

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My Info:

Credit score: 778

Personal Debt: Zero

Rental home debt:  812k 

Rental home value: 1.375k

DCSR on homes: 1.21 to 1.83 (avg 1.45) 

Total Cash flow: $3,819/mth ( $312 avg)

2 years of business history / tax returns

Total net worth:   $1.03m

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I have been sent the offers for Business Funding, with the big stamped UP TO 500k As low as %5.25 from random online lending Firms although when I have pursued these before andthey were needing me to show stable month to month spending and income from my business bank account. My bank account is anything but stable on a month by month basis. My Business bank account gets a huge increase each time one of my BRRR are completed and then goes on a steady decrease for 3 months after until my next remodel is complete. This has led to too much inconsistency for these lenders to be interested.

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  QUESTION:   I have received multiple offers for debt consolidation from online lending at rates as low as 3.89%. This is to consolidate Credit card debts that I temporarily hold. Seems a little too good to be true.. Is this a form of loan that would hurt my credit score?  If not wouldn't it just make sense for me to stack up 100k or so in credit card debt across a few cards and then use this low interest rate to consolidate?   This has seemed "gimmicky" is why i have not pursued but would like your opinions. 

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Ultimately, I am looking to establish a lending agency that I can be comfortable assuming they have extremely competitive rates that I can continue to build through. Maybe I have already found that in my above current quote of 8.125 with 2 points paydown although I am starting to feel like I am accepting trash rates.  Please give me your thought and recommendations.                   Thank you for your TIME and thought! Let's make each other push to success with our combined knowledge!           Thank you BiggerPockets~platform.