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Old 07-25-2007, 01:54 PM
 
12 posts, read 46,806 times
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Can anyone tell me their experiences with floating anf fixed rates on new construction?
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Old 07-25-2007, 01:58 PM
 
Location: Central New Jersey
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Go fixed all the time! You can get caught pretty badly in an adjustable loan. Yes you payments can be lower for a period of time but they adjust which means most likely you will pay more in the long run.
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Old 07-25-2007, 02:31 PM
 
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Are you buying a Ryan Home? We are using NVR mortgage for our Ryan home.
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Old 07-26-2007, 07:51 AM
 
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Tes we are buying a Ryan Home. We are definitely going for a 30 year fixed but need some advice in regards to flaoting rates until its built cap lock etc.... and it is with NVR
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Old 07-26-2007, 07:54 AM
 
12 posts, read 46,806 times
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Yes we are going with Ryan and NVR. We just were wondering what others did in regards to the floating rate, cap lock, etc. while it's being built. We definitely are going with the 30 year fixed.
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Old 07-26-2007, 08:42 AM
 
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which development, we are in barnegat.
Have you applied yet? Did they give u a rate? And when are u scheduled to close?
We have not locked ours in yet, i beleive there is a pretty big fee for that and the rate as of now is higher than i would want to lock in anyway. But wo knows it could go up.....You never now.
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