/biz/ - Business & Finance

1st time home buyer here. I was looking for a resale in the 300-350k range. But my agent brought up purchasing a new construction recently. 1 story is 395k, 2 story is at 430k, which normally would be a little outside of my budget. BUT, there is an incentive going on that locks the rate to 4.99%, which is whole hell of a lot better then the current 6.8% I was looking at. I did the math and the 1 story new construction comes out to roughly the same monthly cost as a lot of the 350k resales I was looking at. The incentive ends next week however.

Should I do it? I know I could always refinance the resale later but I have no idea when the fuck rates will go down again and this looks good to me. But I also dont want to fall for FOMO bullshit. Like I feel that the equity gained would be worth it though? And I wouldnt have to potentially worry about all the bullshit with resales like replacing the roof 3 years down the line or whatever.

So bank of america is enforcing this limit, not computer share themselves. The limit is put in place since making a limit order that doesn't fill adds risks to their collateral some how?
Either way once the price per share gets closer to 3500 the limit will go up. Fidelity has a similar rule in place where the limit order is a % of the current price (50%) so it's literally a non-issue
stay comfy
WAGMI