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owe 124K on our home FHA home loan- want to refinance with FHA streamline. I've been given a rate today for 3.5%...with 1900 out of pocket (the lender credit is only around 1K right now) 1900 out of pocket seems very high to me. the lender claims rates changed again today and he's unable to give me a higher lender credit today.
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NO appraisal. That's the problem- I'd bet we would come in around 125-130K value for our home but we might not and I don't want to risk it. My iassue isn't with the interest rate it's with the out of pocket expense. 3.5, 3.75- it makes no difference to me. My issue is wanting my OOP expense to come in under 1K.
Curious as to how your closing costs are getting up to $4400 on that low loan amount. You should easily be able to get 3% lender credit at 3.5% maybe even more
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