100%, stated for preconstruction

I am looking for anybody who can do 100% stated loan for a preconstruction in fla…my original lender bailed out…i do have a quote from a local lender here for 7.375 on 1st and 12.625 on 2nd…seems kinda high to me…am i unreasonable?..i am planning to lease purchase or maybe rent for 1 year…purchase price is approx. $260k
thanks, dave

Seems reasonable to me.

so you don’t think rate quoted is too high?..this is my first time so i’m just trying to explore all options…thanks