No point, no fee re-fi in MD - Posted by HT

Real Estate Investing Real Estate Financing
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Posted by GMann on January 15, 2003 at 12:06:12:

They have no cost loans list on the site.

If you want a no cost loan expect a higher interest rate. You can’t have both. The higher interest rate is a compensation for no up front fees. If you want the lowest rate and no fees then you are wasting your time.

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No point, no fee re-fi in MD - Posted by HT

Posted by HT on January 11, 2003 at 14:05:24:

Hello All,

I’m looking for a reputable lender to provide a no point, no fee (or very close to it) refinance for a Maryland property.

Any feedback provided would be greatly appreciated.

Thanks in advance,

HT

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Re: No point, no fee re-fi in MD - Posted by Charles Clark

Posted by Charles Clark on January 11, 2003 at 16:14:21:

HI HT,
There are lists available, you will need to decide if you qualify for a prime, Alt-A, or sub prime loan.
One note. “everyone has to eat”. You can get a no point loan/no fee loan (and there are versions of what that means), but when you do, the interest rate is higher than when you pay the points/fees up front. If you are going to be in the property for less than 5 years, probably consider no fees/more than 5 years, consider both options.
If you have any other questions, please let us know.
Charles Clark

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Re: No point, no fee re-fi in MD - Posted by HT

Posted by HT on January 12, 2003 at 14:56:44:

Thanks for the feedback Charles.

While I’ve had a few credit blemishes. I recently purchased a property (last 18 mos.) with minimal problems, so I don’t believe “prime” would be out of the question.

I’ll be staying in the property for more than 5 years and will consider both options as long as the numbers sound good. Right now, like others, I’m looking to capitalize on the low interest rate before the imminent increase occurs.

Could you provide me with some URLs for the lists you referred to in your response?

Thanks in advance.

HT