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Mortgage @ 7.5% or do a rate buy down?
Mortgage @ 7.5% or do a rate buy down? Hey! Me and my husband just bought a new built here in Florida. Total cost came up to 430k. I'm putting 20% down. We've been quoted a mortgage at 7.5% inclusive of 13k builder credit if we were to use their mortgage. Monthly payment comes to about $2400 with that. If I were to pay $29k then I can lower the rate to 4.75% which will be about $1780...
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