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You may see a rate increase if your loan to value exceeds a certain threshold. This means your brokers commission is reduced. So, your loan officer would have to increase the rate in order to make more money. The best person to answer this question would be your broker/lender. Ask for a loan comparison showing both options as well as an estimate for each senario. If there's still a lot of grey area, move on to another lender...there are planty of fish in the sea.
The cost of each point is equal to one percent of the loan amount. For instance, for a $100,000 loan one discount point equals $1,000.WE OFFER ZERO COST LOANS TOO!
Many of the below answers miss your point and your loan officer missed your point as well. If you roll the cost into your loan your rate should not go up. If you want fees waived your rate should go up accordingly as the below answers mention. If a reason exists on your refinance loan that closing costs can not be rolled in, then your loan officer should tell you in clear terms that is the case. Keep the lower rate and roll in the cost. If your loan officer convinces you the point rolled in is not a value then have him calculate why the savings to cost ratio is not a value.
If its a refinance, it may be able to be rolled into the loan if you have the equity and there is room within the maximum LTV. If its a purchase, you can't put it into the loan if its a FHA, VA, or conventional loan. So, he would have to waive the fee. By increasing the rate, the lender would be paying the origination fee to them directly for their services.My assumption is this is a purchase or the loan officer just didn't understand what you wanted. Let us know if its a purchase or refinance.
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