Got an offer accepted but concerned about the high interest rate

Seeking Advice
21

Eli said:
With your credit score, you should be getting around 6.375%. I recommend shopping around; 7.4% is too high.

Thanks for the advice! I’ll start looking into other options.

22

What’s the total loan amount? This will help determine if the rate is competitive.

23

Rates from a few weeks ago might not be relevant now due to market changes.

24

More details are needed to assess why the rate is high. Knowing the property type, loan amount, and whether you’re receiving any lender credits can help.

25

That rate does seem quite high given current standards. Definitely explore other options.

26

It’s not too late to shop around. Getting the best deal might require comparing multiple offers.

27

Kari said:
It’s not too late to shop around. Getting the best deal might require comparing multiple offers.

Thanks for the encouragement!

28

Switching lenders worked for me. Better rate and lower fees than what the broker was offering.

29

Grayer said:
Switching lenders worked for me. Better rate and lower fees than what the broker was offering.

That’s reassuring to hear. Thanks!