Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate mortgages to write unbiased product reviews. The mortgage refinancing process can be laborious and expensive — but if the conditions are right, it can be worth it in the long run. Before jumping in, you want to make sure you're refinancing for the right reasons. There are many different reasons homeowners refinance their mortgages, from ...
Closing costs are one of those things that can catch you by surprise, whether shopping for a first home or refinancing an existing mortgage. Whatever the case, at the end of most real estate transactions, you’ll typically have to pay closing fees to finalize the offer. Fortunately, there is a way around this dilemma with a no closing cost refinance mortgage. A no closing cost refinance is mortgage refinancing that helps cover closing costs. So, if you’re looking to refinance but don’t have the cash to cover additional closing fees upfront ...
A no-closing-cost refinance is a type of mortgage refinancing that allows you to avoid paying the upfront closing costs that usually come with refinancing. These costs include fees for appraisal, t...
A mortgage refinance involves replacing your existing home loan with a new mortgage for the same property. The funds from your new mortgage are used to pay off your existing loan, and you start making mortgage payments on the new one instead. There are many reasons to refinance your mortgage loan. You may want to reduce your interest rate, lower your monthly mortgage payment, avoid paying mortgage insurance premiums, or borrow from the equity you’ve built up in your real estate. Here’s when ...
A no-closing-cost refinance delivers short-term savings, but is it the right option for you? Learn about the pros and cons of refinancing without closing costs.
A no-closing-cost refinance may be worth considering if you’re short on cash for closing costs, or if you’d prefer not to dip into your savings account to cover them. It’s also a good option if you plan to move within the next few years. Don’t let the name fool you, though — a no-closing-cost refinance isn’t free. Understanding how it works will help you decide if this short-term benefit is worth the long-term cost. A no-closing-cost refinance allows you to replace your current mortgage with a new one, minus the upfront fees. Instea ...
For the past few years, mortgage rates hovered near all-time lows, which drove a surge in refinancing activity. Refinancing at a lower interest rate can get you a lower monthly payment and save thousands of dollars over the life of your mortgage. But not every homeowner is refinancing—and one reason may be the steep closing costs involved. That’s why a no-closing-cost refinance may sound tempting. It offers all the savings of a refinance at lower rates without the upfront costs. Too good to be true? It depends on your situation. ...
With a no-closing-cost refinance, you don’t have to pay upfront fees to close your mortgage loan. But you may pay more in the long run.
A no-closing-cost mortgage can be a lifesaver if you’re short on cash to buy or refinance a house. Instead of draining your bank account to pay thousands of dollars in mortgage fees, the lender pays them by charging you a higher interest rate or increasing your loan amount. The catch? You’ll save money upfront, but pay more interest charges over the life of your loan. A no-closing-cost mortgage allows you to roll your closing costs into your home loan instead of paying them when you finalize your home purchase. Your lender agrees to cover y ...
Can you refinance without closing costs? Here are the basics of a "no cost" refinance to help you decide whether it's the right option for your situation.