Is there such thing as a no cost refinance?

Good Morning! You can increase your loan amount slightly to cover the closing costs so there won't be any money needed at the time of the closing. Typically, the only item you need to pay for out of pocket (upfront) would be for the appraisal and that cost would be detailed on your Good Faith Estimate. If you would like to have your file reviewed and a quote provided for closing costs, please feel free to contact me offline. Thank you and good luck!

There is no such thing as a "No closing cost" loan.. title companies, appraisers, even your lender.. none of them will work for free.. so they have to be compensated... so when financing, you can either pick the lowest rate available, but pay all your own closing costs, or choose a higher rate, but let the lender give you a credit to pay the costs, or you can finance the costs into your loan. But in either scenario, your paying them.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Absolutely but you would receive a higher interest rate in order to receive a lender credit enough to cover the costs of refinancing. It all depends on your personal situation as to what road to take.

Yes there is! We are a mortgage brokerage located in San Diego, licensed throughout the entire state of California. We specialize in no cost refinances. Feel free to contact us at 858-605-0952 to discuss your current situation with no obligations.

Yes you can.We are licensed to work in the state of california. Call us at 9162388884 and we can help you with no cost refinance.

The basic answer is yes, but you need to work with your local licensed lender to find the best program which balances the interest rate costs and the increase in loan amount to achieve the best outcome for your specific situation. You also need to be aware, that if you are using higher loan balance, that will be counted as "cash out" and then you need to have enough equity to meet the program requirements.

Sure. Tell the Loan Officer you don't want to pay any fees and they'll increase the interest rate a little to cover your costs.

the costs can be built into the closing with a higher rate or higher loan amount-

Williams answer is accurate. You will pay the costs...just a question of how.

There are always closing cost associated with a mortgage, however, there ways to minimize your "out of pocket expense". One way is to increase your loan amount to cover those costs and another is to get a lender credit by way of increasing the rate and the lender pays the closing cost for you. I would be very leery of any lender or broker who tells you there are no closing cost.

Yes, there is a way for you to be able to refinance without having to pay any money out-of-pocket, including the appraisal cost, interest to your old and new lenders, and the funds to set up your escrow account if you pay your property taxes and insurance with your monthly payment. The payment of interest, and escrow funding are not loan costs but rather accrued or prepaid expenses. You will, however, have to pay for the appraisal upfront, but can be reimbursed for it at the close of the loan. I have done many refinances for Villa Park and other Orange County clients, none of which required out-of-pocket cost by the time the loans closed. In some cases, my clients were able to get as much as $2,000 cash out without their transactions being considered cash out, which, typically; are much costlier loans. Their interest rates and/or loan amounts were a bit higher than if they paid the costs and only financed the current loan balances, but it was their desire to have their loans structured in this manner. Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 40+ quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

Hi GioNova33: Thanks for your question. When locking an interest rate, there is usually a best rate scenario at that time. The rate my have a credit or a cost. However I am able to help you to run these numbers based on your scenario to help you find the right rate, payment and type of mortgage that is best for you. With a No Out Of Pocket (aka no cost loan), these will most like be at a higher rate than a No point loan, and the credit for the increased rate is used to pay for services connected with your loan (title, escrow, notary, appraisal, recording, loan costs, etc.) which equates to higher payments and more interest over the life of your loan. A lower rate may become a great benefit to someone who will stay in their home for 10 years or more, while a higher rate with little or No out of pocket cost, may be beneficial for someone who does not plan to live in their home for a long period of time. My goal is to ask you questions like this, and to find out whether you would rather make a lower payment, or pay your home off quicker with a higher payment of a 15 year fixed loan, which could save a bundle of interest. I can be reached at (707) 583-8107. Thank you and look forward to helping you further with a FREE Loan Analysis (no obligation)Roger Farahrfarah@bayeq.comBay Equity Home LoansSanta Rosa, CANMLS: 508446Branch NMLS: 238915Equal Opportunity Lender

You may be able to include the closing costs as a part of the new loan.

There is no such thing as a "No closing cost" loan.... none of us do work for free.. so we have to be compensated... When financing, you can either pick the lowest rate available, and pay all your own closing costs, or choose a higher rate, but let the lender give you a credit to pay the costs, or you can finance the costs into your loan. But in either scenario, your paying us. The best advice I can give you is to contact Unity West lending and apply with us. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because we are familiar with local customs and we work with numerous lenders, banks and investors seeking out the best loan terms for your particular scenario. Because we have lower overhead, we can offer you lower rates and lower fees than most of the larger lenders...http://www.uwlending.com

If your loan officer raises your rate then you can get your closing fees included in the mortgage. That way you won't have to pay any money out of your pocket except the appraisal fee and a credit report fee. Typically brokers won't charge you for a credit report though. If you would like me to get you a quote feel free to send me an email or call and I'll be happy to assist you. Depending on your situation I can get your loan closed in approximately 14 to 21 days.