I am looking for a mortgage lender to purchase a house in dallas metro area. I am already in contract with a builder. My middle score is 780 and DTI will be abount 30%.
I am buying a 420k home and putting down 10%.
I am specifically looking to get a 5/1 ARM because I have plans to pay off most of the loan in the 1st 5 years.
I have been in touch with a few local lenders but they dont quote good rates for 5/1 arm(quote in the 3.75-4.00 range) which is way off the national average for 5/1 arm.
Please refer me to some lenders who can do 5/1 arm for my situation. Thanks!!!
