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First post here. I'm needing some input. My builder is giving me either zero lot premium (worth $5,000) or 6% toward closing costs (only if I choose their preferred lender). What should I choose? The 6% is very attractive ($12,000 on a $200,000 home) Is there any catch of going with this lender that you can tell?
First post here. I'm needing some input. My builder is giving me either zero lot premium (worth $5,000) or 6% toward closing costs (only if I choose their preferred lender). What should I choose? The 6% is very attractive ($12,000 on a $200,000 home) Is there any catch of going with this lender that you can tell?
Ask who the lender is. If they are reputable then you have nothing to worry about.
Tell them the lot premium is a joke and they can wave that anyways. Then tell em you will take the 6% towards closing and also shop around the mortgage to compare fees etc.
Tell them the lot premium is a joke and they can wave that anyways. Then tell em you will take the 6% towards closing and also shop around the mortgage to compare fees etc.
It's a cul-de-sac lot and the back is facing the wood. Is this lot still not worth $5,000? Some say it's worth it and some don't; I'm sure but waiving it is an option.
My buyer agent tried but they said they couldn't do more.
Im really shocked that they wont negotiate. I really am.
The only other thing I would do is ask if you can get the 6% closing costs with another lender.
If you have to make a choice, I would do closing costs.
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