I mention this as I have seen some people want to sue companies because they were a sponsored affiliate on a website…Regarding the original post- expect 10-12% (I think latest I saw is avg is 11.5%) rate plus atleast one point for a 12 month loan.Bigger companies may take longer for approval and can be more flexible usually in down payment amounts.

Hey Elliot, this could be more challenging to get approved as a first time investor as a first time investor.

We have credit scores over 730 and have been "soft approved" for around $750k. 

A loan commitment letter carries more weight as it confirms lender approval, signaling a stronger ability to close.Addressing Closing Concerns: A commitment letter meaningfully reduces concerns, especially when paired with proof of equity and a track record of performance, even if on smaller deals.What Brokers Look For: Key factors are a reputable lender, clear terms in the commitment, and evidence of funds for equity and reserves.

There's no refund for the time and effort spent.2) Dependent upon City/County Approval: Even after all the due diligence, we're still dependent on the city commission's approval.

(more than likely) The rates are not locked in until final approval is given.

It would be nearly impossible to prove out price or pace here, meaning we would likely not be able to get corporate approval for the investment. 

I know my value in bringing the deal, managing approvals and minor renos and having the team to get this done quickly. 

I finalized the property on May 3rd and they told me they already have a tenant ready to move in (they did not take my approval or anything or even informed me their background).

Ben,First from a Bankers point of view you are over extended from an LOC perspective and its hurting your DTI and future approvals.