no closing costs: Popular mortgage programs at a glance.
- 03/30/22 11:11 AM
Minneapolis, MN: Figuring out which mortgage program is best for you can feel very overwhelming. Below we provide a list of some of the most common mortgage loan programs available in today's market.
We suggest rather that trying to figure out which program is best on your own, that you simply complete a full online mortgage application with a local mortgage broker instead.
Once the lender has all your information, they can discuss your exact overall situation, including your wants, needs, and ability. Then zero in like a laser beam on the programs you qualify for, how much house you can afford, what … (1 comments)
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no closing costs: How do no fee mortgages work? Should I get one?
- 07/28/21 11:04 AM
Minneapolis, MN: We all know closing costs can be pretty expensive when getting a home mortgage loan. You may have also seen advertisements for no closing costs, and no lender fee loans, and wondered how it all works. Read more, as I shed the bright light on how lending really works.
Real or a Scam?
Well, low cost, no cost, and no lender fee loans are real, and they are not officially a scam, but they are a very misleading slight of hand type of creative advertising.
You see, all lenders have basically the same closing costs. Most costs are what is known as … (0 comments)
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no closing costs: Refinancing with your current lender is usually a mistake
- 01/02/21 08:37 AM
Thinking of refinancing? Been contacted by your current lender?
Your current lender sounds like a logical choice to refinance. Many people believe that "because they know you" that somehow the current lender can refinance you quicker, cheaper, and faster.
You couldn't be more wrong.
There is no short cut to the refinance process with your current lender. Most people get very standard loans. Fannie Mae, Freddie Mac, FHA loan, VA loan, and USDA loan guidelines are the same with all lenders. Therefore all lenders still need to do everything all over for your refinance, including your current lender. You still need to sign the … (1 comments)
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no closing costs: 3 reasons people don't refinance when they should
- 11/06/20 11:45 AM
Minneapolis, MN: Mortgage interest rates have been amazingly low the past 6 months, and according to a major data firm, over 18 million people could benefit from a mortgage refinance, and cut an average of $304 a month off their current mortgage payment.
Seems like a no brainer, yet many people simply don't take advantage, despite knowing mortgage interest rates are low, and their mailbox being stuffed full with offers to refinance from lenders.
Here is a small list of major reasons people don't refinance, and why you should:
I Don't QualifySure, maybe your situation has changed since your last mortgage loan, and you … (2 comments)
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no closing costs: What are mortgage loan closing costs, and how do I pay them?
- 07/19/17 01:39 PM
Home buyers, especially first time home buyers, commonly fail to understand all the costs involved in buying a home. Everyone understands down payment, so no issues there. But mortgage loan closing costs are a whole different story.
I often hear potential home buyer comment that they thought they had saved enough for a down payment, only to be blind sided with mortgage loan closing costs.
So what are mortgage loan closing costs, and how do I pay them?
WHAT ARE MORTGAGE CLOSING COSTS?All mortgage loans have closing costs. They include appraisal, credit report, state taxes, title company fees, loan origination fees, state deed taxes, … (0 comments)
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no closing costs: Builder profits way up, but not from selling homes!
- 12/11/12 03:40 AM
Minneapolis, MN: Recent reports show homes builders are making record profits – but not from building homes! What then you ask? From providing the mortgage loans the “builder” give to people buying their homes!
Pulte Homes shows mortgage loan revenue up 70%, which is 6 times higher than their revenue from building homes. Home builder Lennar Homes shows mortgage revenue up 60%!
The reason? The margins on the loans they force… Oops… Offer people buying their homes are fat. Really fat.
It is a well known fact that home buyers can get significantly better mortgage loans deals when NOT using the … (0 comments)
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no closing costs: Best Interest Rate or Low Closing Costs, which is better?
- 05/16/12 10:37 PM
Best Interest Rate or Low Closing Costs?
One of the most confusing areas for consumers in a mortgage loan transaction are closing costs. There are advantages and disadvantages of the highly advertised no closing cost loans.
First and foremost, there is no such thing as a zero cost loan! No one works for free!
Everyone knows there are costs associated with getting a mortgage loan; appraisal, credit reports, state taxes, county recording fees, title companies fees, lender fees, escrows, and more. Someone has to pay these fees, and it is always YOU. How you pay them is you need to understand.
… (2 comments)
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no closing costs: No Closing Cost Loans Cost Money
- 01/31/12 01:20 AM
I constantly receive requests for a No Cost loan. Sadly there is no such thing.
All loans have closing costs associated with putting the loan together.
Just like you, participants in the mortgage loan process don't work for free. The Appraiser, Title Officer, Title Insurance, County Recording Fees, Minnesota Mortgage Registration Tax, as well as your lender all need to get paid as part of the process.
Each of these parties charge fees for their service in processing and funding your loan. The Lender's responsibility is to explain to you what the services and costs are, and to give you an … (1 comments)
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no closing costs: No Closing Cost Mortgage Refinance? BUYER BEWARE?
- 07/27/10 11:37 AM
No Closing Cost Mortgage Refinance? BUYER BEWARE? Good or Bad Idea? YOU DECIDE after reading this...
St Paul, MN: Mortgage interest rates are currently at historic lows. Your mailbox and the airwaves have become full with mortgage companies competing for your business. Many of these advertisements are for "No Cost" or "No Lender Fee" loans.
Are No Cost Loans a Deal? For most people, usually not.
One of the most confusing areas for consumers in a mortgage loan transaction are closing costs. Here I'll explain the advantages and disadvantages of the highly advertised "no closing cost" or "low cost "loans.
First … (0 comments)
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Minneapolis, MN: Figuring out which mortgage program is best for you can feel very overwhelming. Below we provide a list of some of the most common mortgage loan programs available in today's market.
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