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Delay closing for builder preferred lender?

I'm under contract and am to close this Friday the 2nd on a new build. This is my second home.

I hired a friend who is a realtor of 2 yrs. and he pressured me to use his lender, Loan Pronto.

The builder has been very kind, they are doing all necessary repairs. That's the upside. I love the house and want to buy it. The builder offered preferred lenders but we decided to use my agents lender.

The lender my agent pushed me to has provided me with the final disclosure.

Conv 30 yr, $70k down on $440k sale price, 780 credit, $120k salary

Builder is providing a $10k incentive, can be used toward anything like a 2/1 buy down

  1. Rate is locked at 6.999% at current down, can go to 6.5% if I put down another $5k
  2. This may have been an error but I pointed it out and the loan officer said it would be corrected at closing, my agent was listed as double agent on final disclosure (6% comm, not 3)
  3. The loan is to be sold to United Wholesale Mortgage (mixed reviews)
  4. TIP is 140%
  5. Builder to provide a 2/1 buydown - the loan officer keeps diverting the rate negotiation conversation to this and telling me that this is exclusive to him. The buydown was not listed on the final disclosure.

I am trying to get the best rate possible.

The builders preferred lender reached out to me and he came back with a counter at 6.5% at $70k down and the 2/1 temp. buy down. But I would have to delay close to next week the 9th.

But the builders lender will service it with Chase bank.

I am weighing heavily delaying closing to get the better rate and not have my loan be sold to some company with mixed reputation. LP won't budge on the rate unless I put more down.

What would you do? What additional questions should I ask? Am I being too picky or am I doing it right by looking around? Thanks.

submitted by /u/triple4k
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source https://www.reddit.com/r/RealEstate/comments/z6ssig/delay_closing_for_builder_preferred_lender/
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