Explain this, how can a lower rate cost you more?
[https://www.housingwire.com/articles/uwm-1-99-30-year-mortgage-rate-comes-with-a-catch/](https://www.housingwire.com/articles/uwm-1-99-30-year-mortgage-rate-comes-with-a-catch/)
In: Economics
Fees and costs imposed on the loan in order to get the lower rate, apparently especially if you don’t have stellar credit or you’re financing the usual amount (80%). These very low rates seem to work best for those with exceptional credit who are financing maybe 50% to 60% of the property’s value, and even then there are up front costs larger than you’d typically see.
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