Financing an Investment Property

[Zach Falbo]

I am currently in contract with a investment property here in Florida. I am calling lenders in the area and this is their rate offers thus far.

Cornerstone: 4.75-5.245 30yr 20%down     Hancock: 5.125 25%down    and Quicken Loans: 3.6-5.125 15%down

My question is pertaining to points and if anyone recommends Quicken.  Quicken says that it will cost 3 points for the lowest rate and -3.25 points for the highest rate. My plan is to hold the property for long term rental, but plans could always change as I purchased with equity in the home. 

I am leaning towards Quicken with less money down and actually using the negative point and having a higher rate.

Would you recommend paying for a lower rate or even receiving money for the higher rate? Please explain as to why either way. 

Thank you in advanced!

Zach