New Financing Question

[Jay Holder]

Hi I received the below lender letter from a lender I am working with. My question as this is my first investment is if below are good terms.  It is for a triplex that is fully rented out.  It has rent of $2025 a month being paid.  The monthly payment is not very high so that makes it look good but not sure on the points what those are and the amount I will pay on those.  Also, beings this is a rental property would you go with an umbrella insurance policy? With the umbrella does that cover home insurance or would I need to acquire that as well?

Property Type: 2-4 Unit Residential

Loan Purpose: Buy and Hold

Purchase Price: $130,000.00

Loan Amount: $130,000.00

Monthly Payment: $658.69

Closing Cost: $5,820.00

Interest Rate: 4.59%

Points: 3pts

Lien Holder: 1st Lien

Loan Term: 360 Months

Closing Date: 12/28/2022

Payment Option: Interest Only Payment Option

No Pre Payment-Penalty

Any and all information to help me close this first deal would be great.