Interest Rate on a Conventional Mortgage

[Manan Patel]

Hi All - 

I am working with the lender to finalize the financing for a Duplex in WA state. After going through multiple options, the best deal available is 30 years fixed conventional 15% DP at 4.125% interest. I plan to live in one of the units for a year or so. Given this will be owner-occupied, the interest rate seems a bit high to me. When I asked my lender about the interest rate, he said the rates have gone up in the past couple of weeks and that a multi-family property falls under a different interest rate bracket compared to the SFH conventional.

Can you help me validate this understanding and advise if I am getting robber here with this proposal?

Thanks,

Manan