Need advice

[Sochima Eze]

I'm currently on the deed for my father's house in Queens, NY and have my primary residence in Long Island, NY. I am looking to refinance his higher interest loan under my own name. The property is a 2 family and brings in $1750 in rent monthly. My broker is stating that if I do a conventional loan, the rate will be in the high 4% because it is an investment property. I just want to make sure there isn't another way of going about this.