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We're looking at a new house in NC. The builder uses a specific mortgage
company and is offering up to 10k in incentives off the price of the house
if we use their lender.
We're all approved at our bank to do this but we'd pay 10k more for the
house. We have not signed or done anything yet but if we were to 'bite' at
the builders offer and there were no restrictions for early payoff then
would it be worth it to get the mortgage from them, then refinance in a
month or two? Even if they had a higher rate, still worth it for a couple of
months ?
With standard closing costs we'd still end up 6 or 7k ahead if we the took
the deal and refinanced. We have good credit and shouldn't have a problem
refinancing.
Almost seems to easy and there has to be a catch somewhere. I am thinking
that you have to commit to at least 6 months or something. I am going to chat
with the lender on Monday but looking for advice on what questions to ask
Thanks
Tom
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Mortgage lender incentives, worth it?
