BRR and now time to Refinance

[Mike Kratz]

If you have the option of these 2 loans. Which one do you take and why?

Based on a 110k home ARV

A 20yr rate is at 4.99% with a loan amount of $88K the principal and interest payment would be $581. Closing costs would be $600

Or a regular 30yr refinance going up to a 70% loan to value, the rate would be $3.875% with a loan amount of $77K the principal and interest payment would be $363. The standard closing costs would be roughly $2K and the additional costs because it's an investment to get the best rate would be $1800 - total closing costs of $3800 (11 k less cash out, 3200 more in closing fees, $218 less per month)

I am looking to purchase another home and have really good credit. So, I assume there is some value in cash but I could probably be approved to finance another home. Unless structural repairs make the future home in-financeable. 

Looking for opinions or coaching for what I should do by reading what you would do.