Which would you choose?

[John Hixon]

Subject Property: ARV $120,000. Purhcase price: $75,000. Rehab: $18,000

Lender A: 9.99% w/ 3 points, loan is 70% of ARV . Requires standard closing costs plus $35,200 cash reserves to close deal.

Lender B: 12% w/ 3 points, loan is 70% of ARV. Only requires the normal closing cost associated with closing a property.

I have two different lenders that I am choosing between. Lender "A" wants me to have $35,200 in cash reserves to close the loan. Which I do, but I think that is a little absurd consider I have an excellent credit score.

I would prefer to use my cash to fund multiple deals and not have a majority of it tied up for 3-4 months.

What are your thoughts? Which lender would you use?