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Here is what I want a new home, 15 year loan with no closing costs :)

I am planning on purchasing a new home and I need a great loan.The best deal I've found so is 4.5% with NO CLOSING COSTS through Fremont Bank. Do you think it is possible to find a better rate with NO CLOSING costs?I've checked all over the internet and could not find anyone better.Do you know if such a loan exists? by lowestcostboss from Evans, Washington. Sep 29th 2009 Reply


Reggie Hayes (rhayes)
#15 ranked lender in New Jersey - 12 contributions

The old addage of "you get what you pay for" is definitely in play here. You cannot go to your favorite resturant and ask for their best meal and expect to get it for free. Nor will you go into your place of employment and work 40+ hrs and on pay day give them the money that you have earned back. When you ask for things for free that is when you must beware. If you have 4.5 with 0 closing costs go with it. Remember...the internet has not closed a loan yet!If you would like to discuss real terms on a real purchase, I am always available, Reggie Hayes with Secure Lending Solutions, www.rhayes.slsmtg.com. Email rhayes@slsmtg.com.

Sep 29th 2009
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Joshua Crater (Rate1st.com)
#204 ranked lender in California - 47 contributions

I would Highly recommend comparing your current offer with Rate1st.com!We have over 25,000 direct lending sources so we can Guarantee to find you the best deal available. It looks like our current best rate available for a 15 Year Fixed is 4.125%. Depending on your loan amount, that difference could add up to a substantial savings. Also, I just ran a search and Freemont Bank is one of the Lenders in our network so if you apply with Rate1st.com You can see how they stack up against everyone else....But I do agree with the 2 previous answers, don't believe anyone who trys to sell you NO CLOSING COSTS, everyone has to get paid somehow. Maybe they are just hiding their fee's in YSP / Rebate or worst case scenario they may try to change everything at the last minute.

Sep 29th 2009
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Al and Cindy Lane (Al Lane)
#1 ranked lender in Washington - 38 contributions

The rate seems okay for that type of loan but I am suprised on a purchase you are so concerned about the closing cost. I can promise you that when they say no closing cost they are being paid somewhere as closings are not free. Additionally you will probably find you might get a lower rate by not asking them to bury the cost. Also on purchases in many instances you can negotiate for the seller to pay up to 3% closing cost. Also beware if you are looking for the best deal on the internet you may get what you are paying for. Make sure who you are dealing with!

Sep 29th 2009
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