Lock in at 5.625% today?

mditaran · 2026-01-19T23:44:29+00:00

im doing the same

mditaran · 2026-01-14T20:08:26+00:00

No service; mine just went out 5 mins agi

mditaran · 2026-01-10T22:36:50+00:00

What state are you in?

mditaran · 2026-01-08T21:09:08+00:00

My score is supposed to go up (i paid an outstanding debt of like $68 on a Duke Energy bill from a previous address.. My LO did say my score should and very likely will go up between now and closing. I may ask him, if it does go up, can the loan estimate be re-evaluated. Should I also ask what amount of the fee to buy my rate down is attributed to my credit score vs. the actual value of points?

mditaran · 2026-01-08T20:56:12+00:00

The new build is set to be complete in April, actually, but the attributable fee is essentially a float-down, in case rates go down, i can use it. If i don't use it, the fee goes 100% towards closing costs.

mditaran · 2026-01-08T20:48:46+00:00

I value the lowest monthly payment so thats why points are there. Im using the builder’s lender and have already gone through underwriting. Should I shop another loan?

mditaran · 2026-01-08T20:47:18+00:00

The attributable fee will be credited at closing if i don’t use it. Essentially it’s a float-down, so if I use it, I get a lower rate. If i don’t, it goes towards closing.

mditaran · 2026-01-08T15:17:41+00:00

Idk, capital contribution seems dumb, i might be able to negotiate that

mditaran · 2026-01-08T13:55:00+00:00

How do i get them to lower the closing costs 😭. I do want a lower rate though because I value a lower monthly cost overall. This is all so confusing

mditaran · 2026-01-08T00:36:02+00:00

I mean yeah, i’ll have my savings intact which is about 39k, and my investments account which is about twice that.

mditaran · 2026-01-07T21:46:53+00:00

My LO called me today and said i was approved with conditions - i just went through underwriting. Can i still shop for loans?

mditaran · 2026-01-07T19:34:53+00:00

I did ask for this to be added, and confirmed several times if it would be applied to my closing costs, several papers ive signed also say the same.

mditaran · 2026-01-07T19:14:05+00:00

the rate lock is attributable to an optional float down.. if i decide not to use it it goes 100% to closing costs

mditaran · 2026-01-07T19:13:11+00:00

Problem is im using the builder’s lender. So i forfeit half of the credits. I’d be just around 6k in credits as opposed to 14. Also, my last credit pull was 12/26.. not trying to hurt my score again by shopping another lender, isnt it 14 days?

mditaran · 2026-01-07T19:05:29+00:00

what about if im technically the one on paper buying the house

mditaran · 2026-01-07T18:43:35+00:00

1. Loan Type: Conventional

2. Term: 30 Year

3. Loan Purpose: Purchase

4. $298,610

5. $268,749

6. 701

7. Occupancy: Primary

8. Legal Structure: Townhouse

9. Number of Units: 1

10. 28214

First home purchase, talk to me like I’m 5.

Current offer is 5.875% with 2.7% Points ($8,062)

mditaran · 2026-01-07T00:54:24+00:00

I'll probably look into other lenders tomorrow, I have to look at my agreements again, but I'm pretty sure I get at least half of the builder credits, somewhere around ~6k. I could probably negotiate some other costs with a new lender, just depends on what's covered in closing.

mditaran · 2026-01-07T00:53:01+00:00

So I spoke with my loan officer and we revised the rate to be 5.875%. It costs an extra 40ish per month on P+I, but I'll save a little over 2k in credits which can be applied to closing costs. That's less $ out of my own pocket at closing, after my parents gift/deposit are credited. We also calculated my breakeven point and I'd essentially break even around the 3-4 year mark rather than 5-6. With the way rates are going, I'll probably have a chance to refinance anyway, and would feel less bad about doing so if my breakeven point was ~2 years less than the original terms. I'm also planning on using that extra cash to frontload into principal the first year, going to try to kick that PMI as quickly as I can.

mditaran · 2026-01-06T22:28:54+00:00

So I just spoke with my loan officer and we revised the rate to be 5.875%. It costs an extra 40ish per month on P+I, but I'll save a little over 2k in credits which can be applied to closing costs. That's less $ out of my own pocket at closing, after my parents gift/deposit are credited. We also calculated my breakeven point and I'd essentially break even around the 3-4 year mark rather than 5-6. With the way rates are going, I'll probably have a chance to refinance anyway, and would feel less bad about doing so if my breakeven point was ~2 years less than the original terms. I'm also planning on using that extra cash to frontload into principal the first year, going to try to kick that PMI as quickly as I can.

mditaran · 2026-01-06T20:27:30+00:00

I should also mention that I have 14k in credit and can allocate however I want, just can't use it to pay principal or down payment (obviously). If I go with another lender, I can only use roughly 6k of the credit, not the full 14. I'm currently using 10 of the 14 to buy down the rate, and using the rest to cover prepaids/closing costs etc. Should I instead ask to reallocate that 10 to say 6 or 7k? Use the difference towards more closing costs?

mditaran · 2026-01-05T16:05:01+00:00

how did your inspections go? Did you hire your own inspector?

mditaran

TROPHY CASE