All Forum Posts by: Jeremy Dory

Thanks for the replies! Very helpful! I was on the fence and just need a nudge to one side or the other as Im completely new to this!

That 15k is going entirely towards the price of the house BTW, not points or closing costs (our choice). We tend to pay things off early. Our current residence is owned outright.

We will move forward and refinance down the road if needed. Thanks again everyone.

We are two weeks from closing on our first investment / rental property in Denver. The interest rate of 4.3 at 15 years was locked in a few days before fed dropped interest rates 50 points. Looks like they are going to go to zero, so another 100 points this month. Thats 1.5% drop after we locked in... I want some of that 1.5%! Our credit is nearly perfect (~800) with both wife and I on the loan. If we walk away we lose our 5k deposit, but almost seems worth it to me as 1.5% is significant.

What would the seasoned professionals here do, what are our options? 

The house is new construction and we are going with the developer's lender due to $15k incentive. House (SFH) is $335k 2/2, a small ranch. A relatively good deal for Denver market. TIA!