When rates drop, the option is to refinance.We're in the same position. 2 deals with ton of equity, yet have to wait until rates drop.I guess it's a good problem to have but it can be frustratingGino

USBank has one of the best rates for high yield savings.

I'm buying another duplex there next month.If you are in Detroit you have what so many people here would kill for... a cheap market in your backyard that's makes it easy to learn. 

Quote from @Sheila Nyandebvu: I believe the law requires them to provide a settlement statement 72 hours prior to closing, and you should definitely have one during closing.Do you have any documentation showing what rate they quoted when you first applied?

If so, what is your rates that you’re seeing. 

Plus, I see that you’re a realtor—that puts you ahead of quite a few novice investors.At any rate, feel free to ask me anything about investing in Chattanooga or other markets in the Sunbelt.

What rental rate do you need to break even?  

Any idea on what interest rates would be on that? 

I'm leaning towards traditional lending withh the new home builder because they're offering 5.5-5.99% interest rate. 

+1 for Florida :)I am closing deals currently for my buyers that are cashflowing and appreciating despite the rates!