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Started By
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Buying down closing costs with higher rate...thoughts?
Posted on 1/23/15 at 1:24 pm
Posted on 1/23/15 at 1:24 pm
Quoted 3.875% and $4500 closing costs or 4% and $3300.
Monthly note difference is ~$23
Can afford either. Gut says lower rate but want MT's opinion.
Monthly note difference is ~$23
Can afford either. Gut says lower rate but want MT's opinion.
4
Posted on 1/23/15 at 1:26 pm to Golfer
Payback in 52 months...Kind of a wash IMO. Do you have a 2nd company you are getting a quote from? I'm in a similar situation in which I used the 2nd company offer to lower the company I wanted to go with offer.
Posted on 1/23/15 at 3:10 pm to Golfer
If it's a house you want to live in forever, go with the lower rate.
Posted on 1/23/15 at 3:22 pm to Golfer
I bought down mine from 4.0% to 3.875% for $439. Pays back in 24 months for me (lowered payment by $18.23). I wanted the lower rate.
Posted on 1/23/15 at 5:30 pm to Golfer
In a way, I don't think it really matters much.
I mean, look at what you're debating here.
Basically, two ALL TIME low rates. You aren't losing either way.
I mean, look at what you're debating here.
Basically, two ALL TIME low rates. You aren't losing either way.
Posted on 1/23/15 at 5:37 pm to Teddy Ruxpin
Yea. That's what I've come to the conclusion at 
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