That is about right for an investment property loan. If rates decrease next year, it may be worth refinancing. I assume it is for a 15 or 20 year amortization. This is normal as of today.
Commercial loans are inherently higher interest due to higher risk. If it is a SFR that seems a little high regardless of the loan terms. If it is a multi-unit, especially if it is a duplex, then it seems about right. More units than that, the higher your interest rate will go. But keep in mind how loan length will also effect your rate; longer the loan, higher the interest.
That is about right for an investment property loan. If rates decrease next year, it may be worth refinancing. I assume it is for a 15 or 20 year amortization. This is normal as of today.
@Anthony Dooley it is a 15 years fix loan for SFH. Thanks for your advise.i will take that loan since I will close on the house this Friday. I wasn't aware about interés loan since I used to buy all my properties by cash.