Selling points in the rate to reduce closing costs

[Miled Mourad]

I am new to real estate investing and I'm about to close on my first deal. We're 15 days from closing and my lender wants to lock the rate we have since rates have been steadily getting worse. I have two options, lock in todays rate of 4.625 and receive no credit for my 3.5% FHA loan, Or, increase my base interest rate to 5.15 and get a 5k credit towards closing cost. I get that the credit just rolls the cost into the mortgage, but saving 5k upfront can be crucial for me. The delta in my monthly payments would be $114 (nearly 4 years to pay back). Plan is to Refi in the coming years