Santa Clara County  (408) 252-7334 Sacramento County  (916) 705-2630

Licensed by the CA Dept. of Real Estate. License #00904833 Real Estate Broker (408) 252-7334 (916) 705-2630

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No Cost refinance details:

seerates.com Interest Rate Reduction Center

"No Cost" or "No points No fees" loans are available on owner occupied SFR's only.  Minimum loan amount is $200,000. Not all loan programs are available with the "No Cost" option.  (call for rate quote)

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What does "no cost" or "No points No fees" mean?

What this means is the lender and/or IRRC will pay for normal or customary closing cost's associated with obtaining the new loan.  These fee's include the following: Lenders Title insurance, escrow fee, notary, recording, fedx/courier, underwriting fee's, processing, tax service, credit report and appraisal fee's. (Appraisal rebate limited to $400.00 for loans under $400,000. & $500.00 for Jumbo loans) Early Refinance Fee Notification.   All  borrowers who choose a loan  with the "no cost" option are required to keep the loan for a minimum of three to six months (determind by the final lender funding the loan).  If the loan is closed or paid off  for any reason,  the borrower agrees to pay an early refinance fee equal to one percent of the original loan amount. Cost's specifically not covered by the "no cost" loan. Payoff fee's to current lender, interest to current lender, demand, fax or statement fee's to current lender, interest to new lender, all fee's associated with a subordination , property taxes, prepayment penalties, insurance, collection accts, etc.

This page was last updated on: October 3, 2006