Question about investment cash-out refi rates

[Michael Ede]

I’m getting ready to rate shop for a mortgage, and I was curious if the one rate I’ve been told is realistic.

I’m doing a cash-out refi on an investment property. It’ll be a $450K conventional 30 year with a loan to-value-ratio of 65%.

My credit scores are 717, 715, and 705. The one lender I’ve spoken to so far told me my rate would be 5.875%.

I know I’ll find out once I start talking to other lenders and shopping around, but is this a reasonable rate for this kind of loan? It seems high to me. I know an investment property mortgage tends to have a higher rate than a primary residence, but is there some other rule I don’t know about with cash-out refis on investment properties that pushes the rates even higher? Or am I wrong in thinking 5.875 is rather high?

Thanks!