First of many i hope :) 1 - your buddy is not incorrect.

For the most part, I deal with a broker that underwrites 40-50 companies, so we have choices and I can make a decision then

Heres some common structures:5-4-3-2-1 - Stepdown (5%,4%,3%,2%,1%)Flat PPP - 5 year PPP and there is a 5% hit in fees at any point in time within the 60monthsAbbreviated PPP - 6 months of interest payments on 80% of the balance at closing.It's all different... just shop it out and choose a dscr broker who has the knowledge to help you make an educated decision.

If it’s just you and your husband you can make your own decisions.

Completely understand your decision.

You’ll never have all the information for a perfect decision.

They want you to make a decision within a short time, put $5000 down, and even after this, they don’t allow you to go into the house until after closing, no matter how long it takes.

IMO running numbers would be needed to make this decision.

They don’t understand the consequences, or are so desperate they make bad decisions.  

Also you have the right to make all decisions.