Am I getting a reasonable deal on this mortgage?I'm a first time home buyer with a 704 median credit score. I"m buying a $346k house, 5% down, my DTI is around 44%. The place I'm going through is offering me a 3% rate on a 5/1 ARM, with a 3.6% APR, and charging about $2100 in closing costs. The lender told me if my credit score was above 720 or 740, I could get a 2.875 or 2.75% rate. However, when I look at mortgage rates for Wells Fargo, Bank of America, etc,, they are offering 5/1 arms with 2.25% rates, 3% APR. I understand the 2.25% rates are for people with great credit, but their rates and APRs still seem alot lower than the place I'm going through. My lender says that I should only look at APR when comparing, and that the places with very low rates usually have higher closing costs that are reflected in the APR. Am I getting a reasonable deal with what my lender is offering?August 30 2012 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.