Paying closing costs is a GAMBLE because:
Do you know
FOR SURE how long you will have your current mortgage?
Do you know
FOR SURE the future direction of interest rates?
Most of our clients prefer paying nothing & refinancing again at no cost if rates drop over trying to time the interest rate market and predict the future.
If you move or change your mortgage in the next 6 years you're throwing away money on closing costs because most homeowners don't keep their mortgage for more than 6 years.
[See the proof].
For
most borrowers and
most situations a No Closing Cost loan is the right option. Yet it’s not right for everyone in every situation.
The truth is: there is no right or wrong answer. The best response is “It depends”
Other companies claim to charge “No Costs” but really just charge no “Origination Fee” or “Lender Fee” but still charge thousands.
Worse yet are companies who say they are No cost but add the costs to your loan balance. |
Important fact: Our loans are no cost but there are situations where you will have to bring funds to closing:
If you are making a down paymentTo pay your interest costs on the loan since your last paymentTo set up the escrow account with the new lenderTo pay for a pest inspection, mechanical inspectionYour loan officer will review in detail with you all the numbers prior to closing.Don't wait. Getting started couldn't be easier.