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We are scheduled to close on an apartment within the next 30-45 days. Problem is, I am still trying to line up a loan. It is a 3 unit, self-managed condo in a brownstone and the broker we were using up until now recently bumped the rates up a little bit to 5.375. He has been great along the way and has assured us that he will get the job done. We are getting a conforming mortgage for $417,000. I found a different broker a couple of days ago who said he can lock in a 45 day rate at 5.125%. Problem is, he will have to run our credit again (last time was 40 days ago) and he isn’t 100% sure that a bank will finance the deal (currently looking into it).

Apologies for blabbering on, but we are first time buyers and need some advice Should we go with the 5.375% broker who can get it done for sure, or get the better rate at 5.125%?

Thanks