Financing With Negative Points

[Skyler Schumacher]

I wanted to get some opinions on taking negative points. I’m currently doing a construction loan which will take 8-10 months to complete and I can get 3.675% with zero points on a loan of $250k. I only have to pay interest on the transactions pulled to complete the construction until the home is complete where I would then begin paying the full mortgage.

There is a second home rider clause so I can’t rent it after completion so my plan was to refi into a conventional. Would it be smart to do negative points to decrease the amount of closing costs I would have to pay since I’m going to redo and the interest rate wouldn’t really matter much? My closing costs right now are a little less than $8k. 

Thank you,

Skyler