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Mortgage Professor about closing cost: 
Another Look at No-Cost Mortgage Refinance
September 2002, Revised August 17, 2004 "Another expert recommends refinancing using a no-closing-cost option. His reasoning is that on a refinance, any points paid upfront must be taken as a tax deduction over the life of the loan. This is in contrast to a purchase ... more...

Why Are "No-Cost" Mortgages Not?
March 20, 2000 "I was told that a certain mortgage lender offering loans on the Internet provided grants to first-time home buyers. The grants cover all settlement costs. Is this for real?" No. I went to the web site you mentioned, and found a mortgage broker ... more...

closing cost related definitions

HUD 1
HUD 1 A closing document required by HUD that outlines the settlement cost of a loan. The closing agent prepares this document and sends it to the buyer upon closing. The Department of Housing and Urban Development (HUD) was established by the Housing and Urban Development ... more...

Assumption
Assumption The agreement between buyer and seller where the buyer takes over the payments on an existing mortgage from the seller. Assuming a loan can usually save the buyer money since this is an existing mortgage debt, unlike a new ... more...

More about closing cost

Get Free closing cost Quotes and Estimates

Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

Why Get Pre-Approved For A Mortgage?
One of the most important steps in the home buying process is getting Pre-Approved as early as possible.The Pre-Approval process involves you speaking with a Mortgage Lender about your financial situation, what you'd like to accomplish, and any concerns you have. Armed with that information, a ... more...

Why Refinance Back into a 30-Year Loan?
One of the biggest reasons homeowners refinance their mortgage is to obtain a lower interest rate and lower monthly payments. By refinancing, the borrower pays off their existing mortgage and replaces it with a new one. This can often be accomplished with a no-points no-fees loan program, which ... more...

Home Equity Can Create a Never-ending Money Cycle
What could you do with $10,000? Well, you can have it, now in a new home equity loan! Did you know that if you have been in your home for just one full year, you may already have the opportunity to take out huge dollars in equity from your home -- tens of thousands, even! Did you also know that you ... more...

3 Things to Look For in a Zero Down Mortgage Lender Online
A zero down home mortgage allows you to purchase a home even if you dont have money to cover a down payment which makes them a great option if you are a first time homebuyer or you dont want to spend your savings on a down payment. When shopping around for a zero down mortgage lender online, there ... more...

Mortgage Loans 101: How to Prepare for Closing Costs
Most home buyers understand the basics of home mortgage loans. They know what a mortgage loan is, how interest works, and other fundamentals of the home loan process.But when it comes to the closing costs associated with buying a home, many of these same home buyers get caught off guard by both ... more...

Zero Down Real Estate Investing
Zero down? Why would a seller want to walk away from closing with nothing? Well, they wouldn't, and that brings up the most important point about real estate investing with no downpayment: The seller almost always needs cash at closing, but it doesn't have to be YOUR cash.A Zero Down ExampleI'm ... more...

No Down Payment Poor Credit Mortgage Loans - No Money Down Loan Information
Finding a no money down mortgage loan is actually easier for someone with poor credit. Subprime lenders are more willing sign off on these deals than conventional lenders. But before you jump into a mortgage contract, make sure you understand the terms and are getting a good deal.Benefits Of ... more...

Dallas Mortgage Brokers
Mortgage brokers earn their living by bringing lenders and borrowers together. They are similar to real estate brokers, who bring buyers and sellers together.As you have to be careful in getting a real estate agent, you have to take similar care to get a mortgage broker. The borrower pay the ... more...

Mortgage Companies in California How to Apply for a Mortgage
Applying for a mortgage loan is a major step in the home buying process. If purchasing your first home, it is natural to feel a little intimidated with obtaining a mortgage loan. However, completing a mortgage loan application is not difficult. Here are a few tips to help smooth the loan ... more...

Refinance Your FHA Home Mortgage Loan - Refinancing With The Streamline Process
You can now refinance your FHA loan with their streamlined process. With reduced paperwork, your lender can process your mortgage much quicker. There are some unique requirements to refinance your FHA loan, but you continued to be backed by the FHA through this process.Basic RequirementsIn addition ... more...

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