Hey guys,
Not sure what happened to the thread I started here asking for advice around preapproval letters and sellers potentially asking for more money depending on what you disclose in the letter. If I violated any forum rules, it wasn't clear to me nor was I informed. So if I mod/admin is by chance reading this, I'd appreciate if someone could reach out via PM to fill me in so I don't make the same mistake again.
That said, I've been looking at different rate options for preapprovals and was curious if you guys recommend trading a lower interest rate for less loan credits or higher loan discount point fees vs a higher interest rate for more loan credits or lower loan discount point fees. I'm checking through PenFed and it seems like the 2.87% rate is the one where they start offering credit (in this case $2920) and the 2.75% rate is where they take fees ($730 worth). This is at 20% down. Seems if I put a higher percentage downpayment down the lower the rate I can get where I can actually get loan credits instead of fees.
This would be the first mortgage I'm taking so not sure what the best route to take is.