Just need to get another opinion. First time home buyer in the DC area purchasing in SoMD (30mins away from DC). HHI - 260,000+ home purchase price: 650,000 for 5,000+ sq feet. Only other debt is a car payment we are getting rid of this year ($460). Interest rate locked at 6.3% monthly payment 4,700 including HOA and insurance. Are we crazy

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Not crazy. Not even a little mad.

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Haha thank you! It just feels like so much money!

Easy

I don’t suppose you can put a larger down payment in?

But yea, easy. That rate is below the national average

I recommend asking your lender if they can check rates one more time. Rates plummeted today to an average of 6.5%, which means if you had gotten 6.3 before you might luck out and get lower than 6

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We thought about it but are trying to save up for a rental property and some home improvements we want to make (fence and deck)

Thanks for the tip texting them now!

Not crazy at all. Where in MD is that? Great price

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We found a great home out in Indian Head. Easy drive into DC and Old Town. Ripe for development and not as deep as Waldorf and LaPlata but close enough to enjoy the small town feel when we want to.

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