So I’m a first time home buyer and looking at making an offer on a home very soon. We found one we like, the only problem is houses sell here within 48 hours. We’ve put in offer but always get outbid. Anyways the question is would it be smarter to put my loan over $300,000 to get a better rate? Our current loan if we offered a little above asking would be at 3.825%, but if we go up 7,000 it will be 3.75%. The overall mortgage with escrow will be about $5 a month different. Am I missing something or with the rates like that should I just offer more. I feel like there will some hidden cost or are there risks of appraisals not hitting? Really just worried. Any thoughts or similar situations?

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