Newsflash: Taking a higher mortgage rate then refinancing

My mortgage broker is telling me I can take a higher rate ~4.5% for a home I’m purchasing then refinance in as soon as 90 days to a lower rate. The benefit is that the lender will credit closing costs for the higher rate and then you can refinance in 90 days. Of course there’s a risk the rate jumps up within that 90 days.Is this the case or should I be skeptical?

Read more at https://www.reddit.com/r/RealEstate/comments/6kga3u/taking_a_higher_mortgage_rate_then_refinancing/?utm_source=ifttt

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s