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A no closing cost refinance simply disperses the fees elsewhere in your loan. You can either increase your interest rate or increase your principal. With an interest rate increase, you are agreeing to a higher interest rate. This might make sense if you don’t plan on staying in this home long-term.
Apr 20, 2024 · Application fees. Processing fees. This list is just a starting point. Depending on your situation, there could be additional fees associated with your closing costs. See What You Qualify For. 0 % Type of Loan. Home Refinance. Home Purchase. Cash-out Refinance. NMLS #3030. How Do No-Closing-Cost Mortgages Work?
Mar 8, 2024 · The no-closing-cost refinance option doesn’t require you to pay any closing costs upfront, instead the costs are covered by a small increase in monthly payment from the slightly higher mortgage rate. See What You Qualify For. 0 % Type of Loan. Home Refinance. Home Purchase. Cash-out Refinance. NMLS #3030. Why Do Homeowners Refinance?
