advice needed on buying second property, page-2

Before jumping in ask yourself some questions.
Have I a very secure job.
Have I got $20,000 in reserve cash for emergencies
Have I got equity of 60% or more in my existing property
Am I buying in an area that will go up, is in rental demand and in a town with secure job prospects.
If you answer no to any of the above you are better off paying down your existing mortgage and builing up equity.
If you are in a position to buy then go to another bank because the one you mentioned is screwing you.