Mortgage Loan Question - Vacation home North Carolina

[Christina Kinard]

Hello!

I am under contract on a vacation property (10% down) & looking to lock in with a lender. The current lender we got rates from is telling me that they require a percent of the loan up front kind of like buy down points and that its required because the mortgage companies know that people will be refinancing soon. My loan cost illustration has it listed as "Loan Discount Fee". This is about 1.75% and I am still being quoted 8.1% rate since this is second home. I am wondering if this sounds accurate or if i should look at getting another lenders quote. I am under contract so I need to figure out asap.

Appreciate any advice!!