Is 7.5% too high for investment property if I have great W2 and excellent credit scor

[Shak F.]

I am a newbie to BP. Thank you in advance for your responses and advice.

I am in process of purchasing a single family investment property in Charlotte. My credit score is an excellent and I have a great W2. I am trying to get conventional 30 years loan with 20% down.

I contacted 2 brokers. They gave me 7.5% with 1% cost.  Is this too high or this is current normal rate?

if anyone has a good recommendation, it would be greatly appreciated.

thank you