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re: mortgage interest rates
Posted on 3/12/20 at 8:21 am to cajunrabbit
Posted on 3/12/20 at 8:21 am to cajunrabbit
My position for a plan to build has changed and I took advantage on a price dropped new construction. Should I lock in now or wait? Close date on my current house is far out at April 23 so I have time, I am waiting on firm quotes at the moment.
This post was edited on 3/12/20 at 8:22 am
2
Posted on 3/12/20 at 8:31 am to Polar Pop
My understanding is that if it drops below the 2.75 I'm able to get up to a .50 decrease in interest. They said it will take at least 90 days before we close, because they have so many refinances in. I'm not sure on new loans.
Posted on 3/12/20 at 8:39 am to Polar Pop
April 23rd really isn’t that far out. I would see if you could try and wait a couple days to lock it in for 40 days which would get you through the closing date. Probably going to take that long to process right now anyways.
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