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We owe $24,000 on our house, but have a high interest rate. Is anyone willing to refinance with no money down on our part?

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  Answers  |  1

May 20, 2015

Hello:

Certainly...you are asking about a 'no-closing cost refinance' (see my video right here on MoneyTips regarding this subject). You can accomplish that in 2 ways;
1) you can 'roll-in' or finance the costs of the refinance into the new mortgage or...
2) you can structure the new loan with a 'lender credit' towards all of your closing costs (this will almost always have a higher interest rate than #1...but it may be well worth considering). Talk to a reputable mortgage consultant or loan officer regarding these options. Good luck.

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