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Lender credits work the same way as points, but in reverse You pay a higher interest rate and the lender gives you money to offset your closing
Lender credits are an arrangement where the lender agrees to cover part or all of a borrower's closing costs In exchange, the borrower pays a higher interest rate Lender credits can be a smart way to avoid the upfront cost of buying a house or refinancing
Borrowers can use points and credits to manage the cost of their loans—points allow you to pay more at closing to “buy down” the interest rate
To provide a brief definition, lender credits let you roll your closing costs into your loan In exchange for not paying these costs upfront,
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