Worth Paying Mortgage Points?

[Carlos Rodrigues]

Good evening, I'm in the middle of purchasing a 2 family property for $274k here Central Jersey. I believe I can get a total of $3,300 total rental income. I'm talking to my lender about locking in my interest rate. My question is it worth paying points?

4.375 $890 Credit Back Day of Closing

4.250 $690 Cost  -  Save $18 month or $6,480 in 360 Months

4.125 $1,211 Cost  -  Save $37 month or $13,320 in 360 Months

4.00 $1,581 Cost   -  Save $55 month or $19,800 in 360 Months

What would you guys choose?

I'd honestly would like the extra $55 monthly cash flow.

I'm seeking to hold this property for possibly 8-10 year, it's kind or hard to plan long term but it's defiantly an investment property. This would also be my first deal and I'm planning on getting another deal within 6-12 months. Thank you in Advance.