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twitchyzero · 09-01-2018, 12:58 AM

dilemma on an investment piece... close on time or change lenders?

currently approved for a portfolio 7/1 adjustable with 50% down for 360 mos...ordering appraisal soon and closing in 3 weeks

opened an account elsewhere and they were able to offer the same product for 1.38% lower...everything else basically apple-to-apples...but i haven't gone through the underwriting

changing means we would have to get an agreement from seller to delay by at least another 2 weeks...which might cast doubt for the seller (but they are not contingent on another home)...and I'm away that week

I originally didn't care much for the high interest rate because i'm not really paying the mortgage and begger can't be chooser without a credit history south of the border...but now with another option and I can save $200/mo?

just less stress and risk if I go with the original plan and that's what my realtor is biased towards

edit: asked the original lender to retain me at the competitor's rate...price match got shot down lol

background: sellers' market, pending at 5.5% over ask, seller deducted 2.25% after inspection w/o any fuss (not the one I posted few pages back)

09-01-2018, 12:58 AM	#12995
twitchyzero I WANT MY 10 YEARS BACK FROM RS.net! Join Date: Oct 2007 Location: Vancouver BC Posts: 22,232 Thanked 10,011 Times in 3,975 Posts Failed 882 Times in 422 Posts	dilemma on an investment piece... close on time or change lenders? currently approved for a portfolio 7/1 adjustable with 50% down for 360 mos...ordering appraisal soon and closing in 3 weeks opened an account elsewhere and they were able to offer the same product for 1.38% lower...everything else basically apple-to-apples...but i haven't gone through the underwriting changing means we would have to get an agreement from seller to delay by at least another 2 weeks...which might cast doubt for the seller (but they are not contingent on another home)...and I'm away that week I originally didn't care much for the high interest rate because i'm not really paying the mortgage and begger can't be chooser without a credit history south of the border...but now with another option and I can save $200/mo? just less stress and risk if I go with the original plan and that's what my realtor is biased towards edit: asked the original lender to retain me at the competitor's rate...price match got shot down lol background: sellers' market, pending at 5.5% over ask, seller deducted 2.25% after inspection w/o any fuss (not the one I posted few pages back) Last edited by twitchyzero; 09-01-2018 at 01:18 AM.