Real estate blog entries tagged with no cost by Jason Schweiger (Network Funding LP)

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Home : Blogs : Jason Schweiger : Issaquah, Bellevue, Redmond, Kent, Covington, Auburn, South King County Real Estate - Active Rain : Tag "no cost"

no cost: "No cost" refinance loan is not really a no cost. You just dont pay the costs, so the effect is the same. - 08/15/11 10:45 PM

There is a lot of confusion about the "no cost" refinance. What people need to realize is that there are always costs on a loan such as appraisal, underwriting, processing, title, escrow, and etc,. The difference is that with a "no cost" loan the rate is increased by a certain amount of basis points, depending on the loan amount, to create a credit from the lender to the borrower to cover these costs. This way the borrower does not pay the lender costs, but will pay for them in the rate.
This is great for a borrower that plans to keep the … (3 comments)

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Jason Schweiger

Auburn, WA

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Network Funding LP

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Puget Sound Mortgage Broker working hard for my clients in the entire Puget Sound region including Issaquah, Bellevue, Seattle, Redmond, Kent, Auburn, Maple Valley, Covington, Renton and more.

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