We are looking to purchase our first house and are in the process of getting pre-approved. This will be a 30-year conventional loan. Maximum purchase price is $300,000 (hopefully less). Our down payment will be between 5% and 10% (wish we could do 20% to remove the PMI, but not possible at the moment). Credit scores (we are a married couple) are "good" although not "excellent", between 700 and 750.
We were quoted an interest rate of 4.3% but an APR of 4.96% for a zero points loan. Does this seem a bit high to anyone? We were able to see the breakdown of all the fees and it looks more or less like this: $4,000 for closing fees plus $4,000 for prepaid interest/escrow plus down payment.
Thanks for your advice!
-Edited to add more info to the subject
