What is a no close refinance loan ?
- No Collateral Dont Want To Risk Your Home Get Credit With Unsecured Loans
- Makes the case for unsecured loans
- Secured Loans In UK Are The Best Option For Borrowers
- A good introduction to the topic of secured loans
- Secured Loans In UK Are The Best Option For Borrowers
- A good introduction to the topic of secured loans
- How Your Credit Rating is Determined
- Your credit rating is important. This article explains how credit ratings work, their effects and what to do if the score is based on incorrect information.
The financial industry has become increasingly competitive over the past years and lenders are desperate to attract customers, thus forcing their creative media guys to come up with new appealing concepts so as to take hold of as many clients as possible.
There is an old saying stating ( life assurance ) that "there is nothing really free", and when it comes to this kind of loans, the saying turns out to be just perfect. So, you want to know whats the catch with No Closing Costs Refinance? Read on and youll find out what lenders have prayed for you to ignore. (Life Assurance)
No Closing Costs Refinance
Those lenders who offer this kind of loans state that youd be saving thousands of dollars on closing costs. Well those "thousands of dollars" add up to $3000, $4000 at a most. But if you pay attention to the interest rate they charge on No Closing Costs Refinance Loans youll notice that its almost 2% above the average interest rate offered by other lenders.
So their claim is only partly true. They are charging no closing ( remortgages ) costs at all, but what they make you save by not charging any fee, they compensate with overpriced interest rates. If you do your math, unless youre requesting a 12 months refinance program, chances are that youll be paying a lot more than those $4000 in closing costs.
Page 2 (Mortgages)