interest rates for conventional loan

[Kenton C.]

I just got prequalified today for a 100 k loan for my first investment property which will be a buy and hold single family home. This was through security national mortgage company, and not a typical bank. I have a credit score of 780

The lender didn't give me an exact rate quote but said that they were closing stuff around 5 1/8% and 5 3/4%. I see ads from banks quoting rates around 3.75-4%. Am I missing something? Why is there such a lare difference in the rates?