@Mike Chern that sounds very high to me especially when they are floating rate prime + 0.5%

I was also confused when I saw all the "Auction.com" banners and tables everywhere. 

The money I got him was float money during the process.  

In my mind, if interest rates go up and Quantitative Easing is slowed down, maybe there won't be as much money floating around for real estate.   

You will notice some of us have “pro” banners, and those can be helpful for locating attorneys, CPAs, brokers, and other RE pros.

Also I should add, we make about $150k per year combined which is enough to cover our living expenses for one house, but not enough to float both mortgages if we are ever without tenants.any recommendations/and or help with our situation?

Not necessarily on interest rate, but on other factors like interest only period, Prepayment penalty and floating rate versus balloon payment.

In Oregon there is no mechanism for private developers to float bonds to pay for infrastructure.. its one reason why Oregon never grew as fast as say CA .. and other areas.. 

@Devin Banner due diligence.

But I wanted to float it out there to be sure about what my gut was telling me.