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?

It's a little bit harder to find new builds but it is possible. 

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

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

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.

Did you already own a mtr and used the class to fine tune your method or were you a complete newbie and used it to build your foundation?

They will only exit in tourist/hotel/commercial zones.We are running businesses/hotels in residential neighborhoods.