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I was saying 5% down, not 5% rate.
A pre-approval rate isn't locked, and rates are climbing fast. Not only that, but teaser rates are never actually offered. You'll find those rates end up being after paying a ton of points to buy the rate down.
I got an email yesterday saying my mortgage has been paid off. The old mortgage is dead, long live the new mortgage. My monthly payments will be close to $400 less, though I've added back the 2 years I had completed on the old mortgage.
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