Urgent Mortgage question

[psycontr]

Builder mortgage gave two options:

1) 1-0 buydown off of 6.6%, first year 5.6%
2) 30yr flat rate 6.375%

Which one is best to choose in present situtation. Closing costs for about two options will be covered in seller credits so no out of pocket expense.

[Pickle]

Just now, psycontr said:

Builder mortgage gave two options:

1) 1-0 buydown off of 6.6%, first year 5.6%
2) 30yr flat rate 6.375%

Which one is best to choose in present situtation. Closing costs for about two options will be covered in seller credits so no out of pocket expense.

First house ? 

[psycontr]

Just now, Pickle said:

First house ? 

Not first but primary house

[Allarinaresh10]

Ltt

[EggpuffReddy]

3 minutes ago, psycontr said:

Builder mortgage gave two options:

1) 1-0 buydown off of 6.6%, first year 5.6%
2) 30yr flat rate 6.375%

Which one is best to choose in present situtation. Closing costs for about two options will be covered in seller credits so no out of pocket expense.

first option better , one year lo malli refinnace chesukovadame

[mettastar]

Builder-lender tho velthe emanna incentive isthunnada?

Get a good faith estimate from other lenders/brokers and compare. Usually vaallu entha incentive ichina it wont even match with what you get from outside brokers. My 2cents

[Thokkalee]

1 year lo interest rates thaggutayi antava? 

[EggpuffReddy]

Just now, Thokkalee said:

1 year lo interest rates thaggutayi antava? 

powell thatha cheppadu mari 2 times horizontal cut ani 

[psycontr]

3 minutes ago, mettastar said:

Builder-lender tho velthe emanna incentive isthunnada?

Get a good faith estimate from other lenders/brokers and compare. Usually vaallu entha incentive ichina it wont even match with what you get from outside brokers. My 2cents

Seller giving 5% closing credit and can only be used for closing costs if used their mortgage company.

Yes, talked to different brokers they gave good rate but some of them suggested go with builder lender use up credits and then refinance later.

[mettastar]

17 minutes ago, psycontr said:

Seller giving 5% closing credit and can only be used for closing costs if used their mortgage company.

Yes, talked to different brokers they gave good rate but some of them suggested go with builder lender use up credits and then refinance later.

Okay, when i was buying last year, i negotiated with builder give me the incetive if they can't match/beat the rate i get from my preferred lender. Match cheyaledu and gave the incentive money, I went with my own lender/broker, applied that money for closing