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PostPosted: 2008-06-24 09:38:13
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Joined: 2008-06-24 09:38:13
My wife and I are considering buying a new house in Central CA. The
builder offers a $70k off the price of a $239,000 home (3bd/2ba, 1271
sq ft) as an incentive for using their preferred lender. We make $62K
before taxes; our FICO scores are 770 and 734. The lender offers
6.125% 30yr fx for an FHA loan where the builder will also pay the 3%
down ($5,000) through the Nehemiah non-profit program. I guess I
dont
understand why a preferred lender. So far I looked at rates in
Bankrate and it looked about right for the type of loan in this
zipcode.

We have the first-time homebuyers jitters and cant decide whether
this is a good deal or not. This is for an inventory house, but we
can
also have a new one built in 4 months when we are expecting a salary
increase. Should we take it or should we wait? Any input would be
greatly appreciated :-)


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PostPosted: 2008-06-24 18:13:04
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Joined: 2008-06-24 18:13:04
On Jun 24, 12:38


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