Making sense of ultra-low mortgage rates
Housing Wire
AUGUST 5, 2020
According to UWM, a homeowner or buyer must have a FICO score of at least 640. If people are willing to buy or refinance at a higher rate, they can get a rebate toward closing costs,” he said. But if you want a lower rate, instead of getting that credit, 1.875% would cost an extra $6,940 in points.
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