Don’t have the ready cash to close on a refinanced loan? Ask the lender to absorb your closing costs by raising your interest rate by an eighth or quarter percentage.Benefits are:
1. No upfront costs.
2. Immediately cut interest rate & monthly payment with no out-of-pocket expense.
Drawback:
You don’t get lowest possible interest rate.
Drawback:
You don’t get lowest possible interest rate.
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