Mortgage Rate Refinance
Refinance My Mortgage now with no fee and lower rate?
I have mortgage with Wells Fargo fix 5 years, it is only my second years, I can still ask them to refinance w / no fee?
There is no such thing as a no cost refinance. Even when people say they got a no-cost refinance, the not really. For example, right now there's a commercial on television advertising $ 2.99 gas for 2 years! Does anyone really believe Dodge Auto Company is being nice? Everyone knows that a gallon of gasoline cost between $ 3.80-$ 4.50 depending on where you are. So why do people take the $ 2.99 marketing ploy? Because advertisers know will buy, when they hear FREE. Perhaps this is why car salesmen have the reputation they do. It is dishonest … but people are buying so they keep on selling the "bait and switch "approach … Same with the mortgage industry. When you do a home loan there are plenty of people involved in the process and all these people running legitimate businesses and all of them have fees. Banks have insurers who are on salary, your home will have to be assessed, you'll probably need a survey, your loan company is a nonprofit, and the title company did not. So when you hear "NO cost refinance" all bank does is offer you a higher rate without individual fees such as title, appraisal, survey, loan origination. So chances are when you get a NO COST refinance you end up getting a much higher than necessary. Or back to the car example, all Dodge does is sell a car for a higher price, 1-3K more and then offering say "Free gas." Do not fall for it. Actually, if someone says they can not offer cost anything passports.