A no closing cost mortgage refinance can be an ideal financial move for many home owners, but it really depends on what your long term goals are. With a no closing cost mortgage refinance, the mortgage lender will be paying all of the closing costs associated with your loan for you. You incur no cost during the transaction. Due to the nature of the mortgage loan, interest rates are often higher, generally about .375% higher than a conventional loan. The client pays few if any upfront fees to originate a no-cost mortgage; but the upfront fees, like points, are added to the cost of the mortgage. The cost is then reflected in a higher interest rate.
No Closing Cost Mortgage Refinance Benefits
Even with a higher interest rate, a no closing cost mortgage refinancing loan program also has its benefits. One of the biggest positive aspects of a no closing cost mortgage refinance is that you can lower your payment at any time the no cost rate is lower than your current rate. Home owners looking for a no cost mortgage refinance with an affordable interest rate, need not look any further. East West Mortgage offers a variety of no closing cost mortgage refinance programs such as the conventional no cost mortgage refinance as well as a no cost ARM mortgage refinance.
Offering a variety of mortgage loan programs at competitive low rates isn’t the only thing that makes East West Mortgage popular, our loan officers are also dedicated to the satisfaction of their clients. For over 20 years, East West Mortgage has worked with thousands of new home buyers as well as home owners, aiding them with their housing needs. Since 1986, East West Mortgage has grown to become one of the largest mortgage brokers in the nation. Home owners interested in a no closing cost mortgage refinance should consider East West Mortgage; our priority is your satisfaction.
