A common question is whether there is a no cost AZ Refi available. The answer is yes, but keep in mind that there are fees incurred during hte refi. How else would an appraiser and title company be able to stay in business?
Here is how a "No Cost" AZ Refinance works...
First, that's just a term. You have to realize there is always a cost somewhere. On a zero-cost refinance, you will pay a higher interest rate. Which isn't always a bad thing. For example, if you are a short-term investor and want to sell your property after a remodel. Given this scenario, if you invest a few thousand in closing costs, you won't be invested long enough to recapture your investment. Or, you can simply buy down your rate by paying points.
If you are going to live in or keep your home for a few years, then it will be in your best interest to get the lowest rate by paying the closing costs. With this alternative, you'll save on your monthly payment and you will break even within a few years. Just figure out where your break even point is. Then you'll be able to determine where your best refi option is for your AZ Home Loan.
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