Refi local

[don6170]

Originally Posted by twoisbetter

When you all say no out of pocket, do you mean you don't have to pay for the appraisal? In my experience thats the one thing you always have to pay for.

"No cost" mortgages work like paying points in reverse. In exchange for a slightly higher rate, the lender covers the costs of atty fees, appraisal, survey, etc. I have done this several times, without paying a penny out of pocket.

[blueAndRed]

Originally Posted by don6170

"No cost" mortgages work like paying points in reverse. In exchange for a slightly higher rate, the lender covers the costs of atty fees, appraisal, survey, etc. I have done this several times, without paying a penny out of pocket.

This is what I have been seeing as well. Truly "no penny out of pocket". The slightly higher rate makes sense unless confident of staying for a decade or more usually.