Buying a home from a builder and want to lock the rate before rates rise more? Also, wondering if the builder’s suggested lender is competitive?
Loan: 15% down payment, $884k loan, 724 FICO, condo
Builders’ lender – 4.125% 30-year fixed, $5,000 towards closing costs
Builders’ lender – 4.125% 30-year fixed, $5,000 towards closing costs
Better solution, my lender recommendation:
- 3.625% 30-year fixed, .50% upfront fee, credited at closing, $1,600 towards closing costs
- Rate float down option, if rates better in 3-6 months
- 3.125% 10/1 ARM, .50% upfront fee, credited at closing, $1,400 towards closing costs
- Rate float down option, if rates better in 3-6 months
The builder didn’t offer the 10/1 ARM option and the 30-year rate is .50% lower, so the borrower will save a ton of money with my suggested lender.
Call Dan the Man for the best loan program options at the lowest rates and fees, 714-310-4162.
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“Dan Stone is amazing! His help and advice took so much stress out of trying to get a loan on my own. He saved me thousands by researching and getting me the best possible options. He double checked my documents and helped make the process fast and easy. I will definitely use him in the future.” -Cathy L.
“Dan Stone is amazing! His help and advice took so much stress out of trying to get a loan on my own. He saved me thousands by researching and getting me the best possible options. He double checked my documents and helped make the process fast and easy. I will definitely use him in the future.” -Cathy L.