realestate
Real Estate

How Do Closing Costs Affect My Interest Rate?

Thu May 01, 2008 2:31 pm
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Comments: 0 Views: 191

If a buyer chooses to finance the closing costs on a home purchase the monthly loan payments will be higher. Paying closing costs out of pocket from cash on hand is the better decision.

Lenders will help a borrower do a cost analysis that will provide the difference between financing closing costs and paying at the time of closing.

In deciding which is the best process a buyer needs to understand that financing closing costs will effectively create a higher APR (annual percentage rate.)



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