r/MortgageRateCheck

Hey folks, hoping to get some advice.

I'm located in California, Bay Area. And got quoted this rate. Hoping to get some opinions on this quote.

My lending agent also mentioned that I could get 6.325% rate with an $8.8k lender credit. Thoughts on the original quote, and If doing the 6.325% with the credit is better (with the hope that interest rates might swing downwards a little).

Other details:

- Conventional Loan, 7/6 ARM, New Purchase, 20% down, with loan amount of 1.372M (total sale price : 1.715M)

Thanks!

Temp buydown:
1st year 5.625%
6.625% onwards.
Escrowing just home insurance.

Purchase price: 515,000
Down: 5%
Zipcode: 77406
State: Texas
Credit: 700

I'm a first time home buyer, would like to hear your thoughts on this deal. New building in Texas.

I'm a first time home buyer, would like to hear your thoughts on this deal. New building in Texas.

Currently in a 7.5 conventional and got this offer. Thoughts?

Edit Colorado 780 credit score