Posted by Doug Pretorius on April 05, 2000 at 19:55:01:
I guess it all depends on how many properties you can buy at 75% or less of appraised value.
I’d negotiate with both. See if you can get rid of the 2 points from the one lender, and see what the other guy will do about downpayment.
If you can get your hands on lots of the above mentioned properties, and can get rid of the charged points, and have decent cashflow on a lease or seller financing, then go for it! Borrow (in pieces) that $500k, at which point your income will be up, so they might extend more. Then see the other guy.