Mortgage rate quotes too high?

[Chad Palsulich]

I've gotten pre-qualified by a number of lenders for a rental property (SFH) in Knoxville, TN and all of 30 year fixed rate quotes range from 4.9 to 5.1 percent. I've seen people post rates on this forum that are much lower. Have I just not spoken to enough banks or is this in line with what you all are seeing? If not in line, do you have any good recommendations? For extra information, the loan amount is about $100,000 and my credit score is about 760.

[Matt Castle]

Rates for an investment property are generally higher than owner occupied. Also depends on other factors like down payment, lender's loan requirements, after market loan buyers, etc., etc. 

I always suggest talking to at least 3 lenders to get a feel for the local market. I've heard several Knoxville & Johnson City investors say good things about Mountain Commerce Bank for it's investor friendly loans but I haven't used them personally.