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no fee refinance mortgage

No closing cost refinance. One of the biggest drawbacks of refinancing a mortgage is the cost involved: lender fees, title insurance premiums and escrow charges, as well as payments to appraisers and other third parties. Even homeowners who could benefit greatly from refinancing may not be able to cover the costs.

VA funding fee applies except as may be exempted by VA guidelines. Maximum loan limits vary by county. Loan-to-value and cash-out restrictions apply. Ask for details about eligibility, documentation and other requirements. Bank of America offers VA refinance loans to existing Bank of America home loan clients only. back to content

Sometimes this cost is folded into the application fee. You can check to see if this fee can be waived if you have had a recent appraisal of your home. Inspection fee ($175 to $350).

The Bottom Line: A good choice, though the $1,195 origination fee is no bargain. Northpointe also offers physician and professional loans in select states with up to 100% financing and no private.

Boasts of closing loans quickly. No upfront origination or broker fees. 24/7 access to your loan and its progress. Transparent platform that automates (and shortens) the refinance process.

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 · Gallery: Consumer Tools For Digital Cost-Cutting. The economist Milton Friedman said, “there is no free lunch,” and if he had been in the mortgage business, he may have added, “there is no free refinance.” Refinancing should be a straightforward, eyes-wide-open financially beneficial experience.

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Extra Costs of a No-Closing Cost Refinance Sometimes, the mortgage company will charge you a higher interest rate if you waive the closing costs. So, you might get a 3.5 percent interest rate if you pay closing costs, but a 3.9 percent rate if you don’t.

In most mortgage agreements there is a provision that allows the mortgage company to charge you a fee for doing this, and these fees can amount to thousands of dollars. Before finalizing the agreement for refinancing, make sure it covers the penalty and is still worthwhile.