Updated almost 2 years ago on . Most recent reply
Interest Rates and Points
Hello!
I'm purchasing my 2nd investment property and working with Truist bank. They are asking for 20% down and providing a 7.1% interest rate. They are charging me 3.389% in points! I calculated 5% in closing cost. Does this sound reasonable? Lender says if I don't take the points I then need to put down 25%. Thoughts?