Feel like I'm getting ripped off

[Purnell C.]

I am currently purchasing an investment SFR in Los Angeles for 200K. I am putting down 20%. Why are the banks charging more than 5% interest as well as an origination fee and points? I never had a hard time with loans for owner occupied properties. I was under the impression that banks made it easy for landlords. I have even been told I should be putting down 25% but they were not going to adjust the rate. Is this how it works everywhere?

[Jon Holdman]

If you're getting 5.something% rates with 20% down, you're doing pretty well right now. I refi'ed a property a few months ago at 5.5%. I do think rates have dipped a bit more recently.

Don't know where you heard that but I don't think that's true at all.