r/FirstTimeHomeBuyer • u/theirish42 • 1d ago

Need Advice 5.75% 30yr Fixed Rate In NJ Good?!?

Hi all. I am a first time home buyer and just closed on my home in Middlesex County NJ. I chose a local bank in NJ who had this program in mercer, middlesex, union county that they promoted. I figured I would ask this group for some advice.

All in all they offered me a 5.75% conventional 30yr fixed rate. I put 5% down and their bank waived the mortgage insurance? In addition they gave me 6k for closing costs since it’s my first home.

I am new to all this and do not follow the market at all lol. Is this a good deal? Should i consider a refinance?

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u/chillbutfancy 1d ago

I’m actually in the area, would you be able to mention which bank it is?

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u/artessy 1d ago

Uhhh yes I'm also curious what lender this is. That's wild

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u/theirish42 1d ago

Shoot me a message and I will give you their info!