Quote:
Originally Posted by 2bindenver
It is only temporary. You will have the proceeds from the sale in short order and you will have a lower monthly payment for the life of the new loan.
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They hope. The OP mentions putting their existing home on the market after they move. We know nothing about any proceeds or profit from that sale, nor how long the home may sit on the market before being bought.
Unfortunately, because the documents left the down payment open and didn't state a specific percentage...you may be stuck with paying more or trying to back out. Call the bank directly and talk to them. There may be some wiggle room for you to get that number down a couple points, but already owning a home is going to take you out of some of the better / cheaper programs.