Rates Vary Among Lenders and Brokers

Interest rates on loans vary among lenders due to factors such as differences in investors, algorithms, and margins. Lenders have distinct equations and algorithms for profit margins, influenced by the need to cover different operational costs. Brokers also impact rates as they have their own margins and commissions involved in the rates offered to clients. Hence, when shopping for loans, one is likely to encounter varying rates from different lenders and brokers, each with their unique cost structures and financial entities that finance the deal.

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