Help Choosing which Lender Offer to Accept

[Allen Martin]

Whats good My Realestate Fam
I hope one day I can return this favor back to you. I have 2 lender offers on the table for a 200k loan & I need help deciding which is the better offer to accept. Offer 1- Eva Bank: 20% down, finance amount160k, 7.29% with a 5/1 ARM Monthly Payment 1,260 ish. Offer 2- Bank Independent 35% down finance amount 135k, 15yr / 5-year balloon

* I was told that even if rates go up it can only go up legally 2% from my original amount & Keep in mind I plan on paying either loan off early. I am purchasing a mobile home park 5.5 acres with 7 occupied slips in place, sewer septic, and well water. Projected gross $2100 a month / $300 per slip. I plan on adding more slips therefore more homes can be brought in.