So, I got pre-approved to go up to 99% of my LTV which is the max borrowing amount that is offered by my credit union. However, the discount rate is higher than the rate in the 80.01% to 90% LTV tier.
Discount Rate:
80.01 - 90% LTV = 8.175%
90.01 - 100% LTV = 8.400%
I'm not sure what to do here. Take the max borrowing amount with the higher discount rate or the smaller borrowing amount with the better discount rate.
Any opinion?
Max borrowing amount from the credit union is $250K.