Hey BiggerPockets family,I was just approved for an owner occupant, Fannie Mae, 5% down with a purchase price of $1.3 million for a 4plex in the Phoenix Metro of ArizonaMy middle FICO credit score is 759My current DTI debt to income ratio is 30%I have enough down payment, closing costs for the subject property, and enough liquid reserves for all 10 of my apartment buildings totaling 45 units in PHX Metro AZ my mortgage lender quoted me with a rate at 8.125% with me paying 0.156 points totaling $1,920My question is,does this 8.125% interest rate sound reasonable for an owner-occupied fourplex 5% down Fannie Mae conventional loan as of March 27th, 2024, at 1700 hours?

We are still in a very tight, low inventory market- but appreciation has never been higher- it's a great place for a wealth-building investment portfolio- it sure beats the highs and lows of the stock market! 

I need an expert who has experience with new builds to help me figure that out.

That's why we state using our data as an outline to build your own for whatever market you are interested in:)Of course, if you ever decide to invest in Detroit...we should chat.

Separately, I have 50% ownership of an LLC that holds real estate on which we are building a new investment property. 

@Mark Jajowka It is getting difficult to place insurance if the building has an older roof.

In the toolbar on the top of the page click on BUILD YOUR TEAM.

Building relationships with bankers have always been my saving grace in these situations.

I would leave it vacant and have a 60 kick clause on any upcoming leases you sign so that gives buyers more opportunities in the building. 

One of the most important things to do is Build a team.