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Most people only care about two things when it comes to financing a home:

How much cash will I need at closing?
How much are my monthly payments?
Rate and cash to close are inversely related: the lower the rate the more cash needed to close and vice versa.

We get a rate sheet from each of our lenders every day that has a range of rates on them. Today’s rate sheet for an FHA loan has a rate as low as 3.25% and as high as 4.375%. The lower we go in rate the less the lender makes over time so the more they charge you upfront. Conversely, we can take a higher rate from the lender which means they will make more money over time so they charge you less upfront. We even get to a point where they will give you a credit to cover your closing ...

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