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I purchased my home last year for $73000 last year in January. The first year Interest was 4.36% and the remainder term the following 29 years would be 5.36%.
I am looking possible to refinance,however dont have much to put down. Is there any banks out there that can do it with zero closing? I have excellent credit.
Do you have any money you can put down? I did a refinance earlier this year with a lender in California. They paid some of the fees. I ended up paying about $600-$700. Maybe you can call around to see what local lenders can help or maybe even roll some of the fees into the loan?
Yeh i could put some money down, however not in the best situation currently to put that money down. Just trying to recover and catch up with bills,however i was never late paying them. Just seeing if there is any banks out there with zero money refi.
In years past it may have been possible to see enough appreciation in a year to essentially do a cash out refi to wrap closing costs and still have your equity be at acceptable level that is much harder these days. If you but down more than 20% and prices have not sunk maybe you could pull this off though if your corner of AZ is like most of that state seems like that would tough to believe...
I purchased my home last year for $73000 last year in January. The first year Interest was 4.36% and the remainder term the following 29 years would be 5.36%.
I am looking possible to refinance,however dont have much to put down. Is there any banks out there that can do it with zero closing? I have excellent credit.
Tough to do no cost refinancing on smaller loan amounts. Also might not make sense since the loan amount is on the low side.
Yeh your probably right.. If i only hang onto the house for 5 years.. probably doesent make sense. I would only then be paying $50 less then what i am currently paying.
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