Should I pay higher closing costs for lower interest rate?I am a first time homebuyer and suddenly overwhelmed.I have been calling banks for quotes and it seems the ones with the lowest interest rates have higher closing costs. for example i was quoted 5.375% and the closing costs were 3% but another bank quoted me 5.65% and stated their 'bank fee' was $938 and said they didn't have any other fees.i know you really don't know what the 'fees' are until getting a good faith estimate but what is the general rule of thumb? i am making a 135,000 loan with 15,000 down and i have 750 credit score.ThanksJanuary 21 2009 - Fort Collins00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.