No Closing Cost Mortgages For Your Fort Lauderdale Mortgage
Nothing is free in life and the same is to be said with a no closing cost mortgage. The way a no closing cost mortgage works is that you will get a higher interest rate than what the market rate is with a credit back from your lender to go towards closing costs.
A no closing cost refinance or purchase is good for someone who isn’t going to hold onto their mortgage for a long enough time period in order to recover the costs involved. Make sure to compare the difference in payment to a loan with a lower interest rate and paying closing costs.
Also, make sure that you aren’t getting a higher interest rate because someone is charging too many fees. You always want to review the total fees no matter who is paying them because in the end you will end up paying for it.