Options for financing...while waiting on Appraisal--Need advice.

[Andrew Frishman]

1. I am purchasing a new build SFR...3 bed/ 2 bath. Under market value for $316K
2. The lender has given me two options due to a delayed appraisal
3. A)Immediate refinance – After closing on the stable bridge loan, we would immediately move forward with refinancing you into a 30 year fixed. The lender wouldn’t charge any points, but there would be the cost of title and $750 for processing. This refi would use the purchase price as it would occur with in the 3 month seasoning period.
4. B) Delayed refinance – You would stick with the stable bridge loan and then refinance at your leisure. I can keep the payment roughly the same if not a little lower. When you refinance after 3 months, we would be able to use the current market value which would encompass market appreciation. If you do the refinance with original lender at any point across the 24 mo term of the stable bridge loan, we would drop origination to 1 point.

I wrestle with the fees and the potential to get an appraisal with delayed refinance to roll some equity into the next Rental deal.

I Would love to hear any/All advice from the forums!