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Updated almost 5 years ago,

User Stats

31
Posts
37
Votes
Sam Ohanesian
  • Investor
  • Tucson AZ
37
Votes |
31
Posts

What kind of rates is everyone getting?

Sam Ohanesian
  • Investor
  • Tucson AZ
Posted

I'm under contract for a multi family in Arizona. I'm doing an FHA loan and I'm working with a lender I've worked with the last couple deals I've done.

He initially offered me 3.25 par with no credits. Then I talked to another lender who offered me 2.875 par or 3 with 800 in credits. I told my lender about this offer and he came back by offering me 3.25 with 1,500 in lender credits. I accepted his offer and moved forward with him, mainly because I didnt want to start again with a new lender. 

Now I am being offered 2.99 with 4,000 or more in lender credits!!! I really want to switch lenders but we are scheduled to close in a couple weeks, the appraisal has already been ordered. 

Should I switch lenders? My current lender asked for the loan estimate to see if he could do better than what I am currently getting but I dont think he will get close to 2.99/4000 back. 

Is it too late to switch and close on time? We are schedule to close on March 16th but we were going to push that date back a few days.

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