Bills.com | No Cost Mortgage Refinance

Bills.com | No Cost Mortgage Refinance


Hi, I’m Anthony Garcia with Bills.com. In
this video I will discuss no cost and low cost mortgage refinancing loans.
Many people look for no-cost mortgage refinance loans if they want to avoid paying any up-front
costs. Getting a low or no fees on a refinance loan is particularly important if you plan
to get another loan in the future, or if you don’t plan to live in your home for the
lifetime of the loan. Unfortunately, a no-cost mortgage or a no-cost
refinance loan isn’t always cheapest solution, lenders often raise the interest rate on the
loan, to off-set the lack of up front fees. There are three types of no cost mortgages:
The First, no points, but you pay lender fees and third-party fees
Second, zero lender fees, but you pay third-party fees
Finally, no cash up front, but all the fees and costs are bundled into the loan’s interest
rate. A couple points to consider, for those who
plan to stay in their homes for more than five years and don’t plan to refinance again.
The best bet is to save up the money to cover any potential closing costs and fees on your
mortgage and focus on getting the lowest interest rate and APR possible.
If you don’t plan to sell or refinance in three to five years, and your closing costs
are less than the additional interest rate, then it’s worth it to pay the closing costs
up-front. No-cost mortgage refinancing is a popular
way to take advantage of falling interest rates. Just be sure to refinance to a lower
rate and pay the closing costs before that additional interest starts to add up.
You can find these types of mortgages here on the Bills.com website and we can connect
you to several no-cost mortgage lenders. Click on the get a rate quote now to start the process
and find your rate. Thanks for watching us here at Bills.com where
we’re helping people save money every day.

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