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Trulia Fort…, Other/Just Looking in Fort Lauderdale, FL

Are there really loans with no closing costs when refinancing?

Asked by Trulia Fort Lauderdale, Fort Lauderdale, FL Wed Jan 30, 2013

Help the community by answering this question:


There are NO LOANS without closing cost. No matter if you purchase or refinace a property there are closing cost associated with loan origination, title and taxes .
In some cases, when there is sufficient equity in the property , said clsoing cost are added to the new loan amount and borrower pays only the new appraisal fee out of pocket.

Iliana Ivanova
0 votes Thank Flag Link Wed Jan 30, 2013
Yes. When you have at least 25 percent equity in your property is possible. Some mortgage broker they built the closing cost into the new loan amount and the borrower will not have to come out with that money at front.

Best of Luck,

Maria Cipollone

Century 21 Tenace
5 votes Thank Flag Link Wed Jan 30, 2013
I have never encountered any type of loan that there is not some type of costs. What you might be referring to, is when the bank allows you to include the fees in the payments.
0 votes Thank Flag Link Thu Jan 31, 2013
I always refer loan questions to mortgage bankers, because this is the area in which they specialize. Call Preston Ware at 561-561-329-0075 or go to

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
Web Reference:
0 votes Thank Flag Link Wed Jan 30, 2013

UMMM... NO!! Come on, don't you think you're paying it somewhere?

That's the biggest bunch of what comes out of the south end of a north bound bull there ever was and all of us in the Mortagge Business, who know better, laugh when we hear that!

This is not rocket surgery, you're paying in in the rate! If you'll take a higher rate, then you'll get a Lender Credit which can pay the closing costs.

Are you paying over 3.125% with a Lender Credit under $5,000?

0 votes Thank Flag Link Wed Jan 30, 2013
Well, me think the question was about NO closing costs; just because one will pay interest over 30-15 years for the added on closing cost/built into the loan (and NOT upfront) , doesn't address the question, IMHO...

I do not think there are such loans (in the PURE meaning of NO closing costs) but maybe the pro lenders here should address the question.

I am a strong believer that there are no free meals out there: either the rate will be higher, more/different "Junk Fees", etc.

With enthusiasm,

Meir Aloni & Team

CRS (Certified Residential Specialist)

CDPE (Certified Distressed Property Expert)

RECS (Real Estate Cyberspace Society)

Successfully selling Broward County since 1986!

Direct phone# 954-338-5220

All Star Realty Inc.
0 votes Thank Flag Link Wed Jan 30, 2013
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