financing my 1st rental

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ok, i want to make this short but it might run on.

i re-fied my primary residence and took about $100K out.
i just offered to buy my first rental and the seller accepted my offer.

the offer the seller accepted goes like this.

purchase price--$265K
20% down--$53K
seller pays $7,950 in closing costs.

i want to go with a no doc, conventional investment loan.
814/804/787 are my tri-merge credit scores.

one loan officer is telling me he can get me 6.5% interest only conventional investor financing with 20% down-no doc's, but i have to come with $2,000 out of pocket. and the loan program he is offering will not let the seller pay more than 2% of closing costs.

another loan officer is telling me i am getting screwed by the other guy.

does any of this make sense.

i am going to shop the loan on monday.

i would love to hear from anyone on this.

vegas