Loan options for an investment property
My offer has been accepted and signed. Now, I'm looking at financing options out there and Quicken Loan has been recommended. I am working with them to finalize rates and terms, etc. I am doing a 25% down since as they said it would help lower the rate. They have been fast in giving pre-approval and on top of it so far. I have never dealt with them and not so sure if I'm getting the best rates. I have asked other local lender with similar rates but they didn't dig deep into my info as QL did. As this is an investment property and not a primary, would anyone care to provide some advice on which loan option suites my need. I am not planning on holding on to the property long term, min 3yrs, max 6yrs.
a) 20yr fixed @ 4.50% total costs $3100
b) 20yr fixed @ 4.625% total costs $2700
c) 30yr fixed @ 4.875% total costs $2900
d) 30yr fixed @ 4.99% total costs $2600
thanks!