mortgage question

[Variety_Pullayya]

pay 20% down and take the apr set for the loan

or

pay low down payment ....take a jumbo loan which has less apr % and then payoff part of the principal loan amount with money you have and keep the low apr?  -- does this work?

 

 

 

 

[HugoStrange]

Second option is better

[Variety_Pullayya]

2 minutes ago, HugoStrange said:

Second option is better

is it a common thing to do? i have personally not seen ppl take this approach

[HugoStrange]

1 minute ago, Variety_Pullayya said:

is it a common thing to do? i have personally not seen ppl take this approach

Second approach lo neku EMI ekkuva untundi, Anduke thisukoru. If u think u can afford the EMI, it helps in long term in closing the loan and as the total amount u will pay in 20 years also reduces