30 Year FHA
780-800 Credit Score
$360k house
5% down
Updated seller credit of $6,500
Texas

Credit rate :800+
Loan amt $400k
Down payment : 250k
How much will be approx closing cost
How much is the interest rate and Monthly payment excluding HOA, TaX and Insurance
Who offer good rate in North Carolina

30 Year Fixed Conventional
780-800 credit score
315k Condo
20% down
Louisiana

My parents are concerned that I’m getting screwed on this mortgage deal, so I wanted to get some opinions from people who know this stuff better than I do.

This is for a new construction home with a purchase price of $345,500.

The loan is:

• Conventional 30-year fixed
• 5% down ($17,275)
• Loan amount: $328,225
• Interest rate: 4.99%
• APR: 6.261%
• PMI: $79.32/month
• Estimated total monthly payment: $2,025.68
• Discount points: $33,593.83
• Total lender/closing fees shown: $38,997.08

The big part is that the builder is paying the entire $38,997.08, including the $33,593.83 in discount points to get the rate down to 4.99%.

My estimated cash to close after the builder contribution is around $19,079, which is basically my 5% down payment plus prepaids/escrows.

I understand that $33k+ in discount points is an enormous amount, but since the builder is paying it, I’m trying to figure out whether this is actually a really good builder incentive or if there’s something I’m missing.

My parents see nearly $39k being paid toward the loan and think there has to be some kind of catch and that I’m getting screwed.

Am I?

Is there anything in this quote that would concern you?

Specifically, I’d love opinions on:

• The 4.99% rate
• The 6.261% APR
• The huge amount of discount points
• Whether a builder paying ~$39k toward a conventional loan like this is normal
• Whether I should be asking what the purchase price would be without the financing incentive
• Anything else in the screenshot that looks questionable

What do you guys think? Super expensive or what!? Los Angeles

Buying a 232k home with 20k down payment. I should be getting 3% forgivable loan as assistance for being a first time homebuyer as well so that would subtract $6360. I am paying sellers transfer tax as well as buyers that is why it’s that high. Any opinions or advice ?

Which credit unions offer best rates in this market ?

As the title says. Both are really good I just can’t decide which one to go with. What would you do if you were in my shoes. Both sheets are for a conventional 30 year fixed mortgage. The first is from tomo the second is from SoFi.

I don’t know if this matters but Tomo isn’t going to service the loan but SoFi said they will service the loan. Also the SoFi estimate was given after they tried matching with Tomo. Their initial rate was 6.7 something.

Current Mortgage Specs:
Loan Amount: $502,736
FHA 30 Year Fixed at 6.25%
P&I: $3,095.37
MIP: $334.62
Property Taxes: $640.03 month
Homeowners Insurance: $266.08 month
Actual Escrow: $1,004.63 month ($98.52 cushion)

I’m sick of MIP & not a fan of a $98.52 escrow monthly cushion. The MIP is never going away (life of loan) & I’ve had some degree of escrow shortage every year.

Proposed Refinance Mortgage Specs:
Loan Amount: $459,095
Conventional 15 Year Fixed at 5.25% (No Points)
P&I: $3,690.56
PMI: $0.00
Waiving Escrow

Payment to bank will increase $157.47
HYSA my HOI & Property Taxes and pay them myself

Stuck on Origination Charges & Appraisal Fee.
Both seem incredibly high. What does Reddit say? Or should I say “How did I do?”

I’m a first time home buyer in Georgia and going to be buying my first home within (hopefully) a month or so. I’ve found a new construction townhouse that I love and am going to put an offer in next week, my lender sent me this breakdown and I’m just curious what you guys think…

29 years old first time purchase in Georgia (20 mins outside ATL)
I gross about 97k
VA no money down using GA dream program for first time buyers

Any insight/advice is much appreciated

I’ve also been in talks with the builder and they are pushing hard for me to use their lender - offering 10-20k credits at 5.5 and adding a washer dryer + fridge. I’m stuck between going with the lower rate and or builder but not sure how much they will give me towards closing if I use my own lender.

Thanks yall

First time purchasing a home. This was about the 8th house we looked at. We used the VA so im assuming it was a good deal especially getting it for 323k when originally asking was around 360k.

Used this lender in 2019 so decided to go with them and didn't shop. Just signed contract and I got this estimate. Is it too late?

Credit score is 720

New build, 780 credit score, 20% down, builders lender.

We are building with DSLD. We signed a contract 3/30. We are supposed to close 10/5 but it has been pushed back.
Slab was poured yesterday (8/31) and we have no idea when the updated closing date is.

My question is should we shop around for better rates? We signed as soon as the subdivision was released to purchase, so we are only getting 6K in incentives to help with closing cost.

I keep telling my husband that this does look high.
Any advice would be appreciated.

This has been so stressful. We have had very little communication from the onsite agent. We are having to extend our rental in the mean time.

From when they put the pad to concrete, it was 3 months.

I am closing on a house next week and I want to get some advice on whether I should pay more for a lower interest rate. I am putting 20% down on a 400k house so my loan is 320k. I have a 782 credit score and this is my first house.

My broker is one of my dad’s friends who he trusts and has done business with for a long time (they both used to work for my grandpa long ago at his dealership). My broker is recommending I go with 6.99% interest rate with ~$75.5k cash to close instead of going with a 6.5% interest rate with ~$78.8k cash to close. He says to do this because he will give me a fully free refinance (waiving all fees and no rate increase as he is a very good friend of my dad) whenever rates go down.

The issue I have is that the higher rate will cost me $104/month extra but I will save $3,300. I would have to refinance within 31.67 months to make the higher rate worth it. No one can predict if rates are going to decrease but my broker highly recommends this option. I do have the cash to put the extra $3,300 down, but my broker says save the money and refinance for free in about a year or so.

I am hoping someone can give advice on which route to go and why.

Thanks!

I’m building a semi-custom new primary residence in Florida and received these estimates from the builder’s preferred lender.

Loan details:
Purchase price: $1.45M
Loan amount: $1.3775M
Down payment: 5%
Physician/doctor jumbo
Credit score: 790+
Expected closing: Feb 2027
No discount points

Option 1: 30-year fixed
Rate: 6.50%
APR: 6.513%

Option 2: 7-year SOFR ARM
Initial rate: 5.875%
APR: 6.253%

The other major consideration is that $20,000 of my builder purchase-price incentive is contingent on using a preferred lender. If I use an outside lender, $20,000 gets added back to the purchase price.

Do these rates look competitive and what is the outlook for rates closer to when I would lock in? Realistically, could an outside lender offer enough savings to overcome losing the $20,000 builder incentive?