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I am looking at doing a refi on my 30 yr from 4.25 to 3.5. My guy has no closing costs at all and it's not rolled into the mortgage value, either. I've done this a few times before with him. I think he makes his money on the interest rate float, meaning, he gets a premium when the loan is sold, which happens almost immediately. The only bad thing is that the mortgage starts over at 30 years each time. Not really a big deal in the grand scheme of things anyways, meaning, monthly cost is less and total lifetime interest is way less, and I can always make extra payments as a few of you have said.
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