Lenders are going to charge an origination fee and interest rate for each project.

I'd like to rent the property out for a few years, see where interest rates are at the end of the balloon, and decide whether to refinance in order to keep it or sell it. 

Good (but few) opportunities are popping up given the current interest rate levels

@Timmy ChenWe are seeing some of the best investments for new homes because of the lender rate buy downs.

When rates drop, the option is to refinance.We're in the same position. 2 deals with ton of equity, yet have to wait until rates drop.I guess it's a good problem to have but it can be frustratingGino

USBank has one of the best rates for high yield savings.

Quote from @Sheila Nyandebvu: I believe the law requires them to provide a settlement statement 72 hours prior to closing, and you should definitely have one during closing.Do you have any documentation showing what rate they quoted when you first applied?

If so, what is your rates that you’re seeing. 

What rental rate do you need to break even?  

Any idea on what interest rates would be on that?