No Cost Refinances

Choosing the Right Refinance Option for Your Budget

When looking to refinance, a borrower has multiple rate and cost options. Borrowers can choose to pay upfront discount points to get a lower interest rate, resulting in high closing costs, go with a 0-point loan that has a slightly higher rate with no or limited lender fees. The consumer primarily pays third-party costs such as appraisal, title insurance, county recording, etc., or finally, get a no-cost loan.

A no-cost refinance is a refinance in which the lender provides credit in exchange for a slightly higher rate to cover all lender and third-party closing costs, including appraisal fees, title fees, county record fees, etc. The lender provides the credit in exchange for the borrower financing at a higher interest than they could get if they paid the costs themselves.

Why Refinance with Sammamish Mortgage?

At Sammamish Mortgage, you can choose from various rate and cost options, including rates with a lender credit sufficient to cover all lender and third-party fees. Through our Instant Rate Quote tool, our clients can easily compare options side by side and determine which option makes the most sense for their situation.

If you are unsure which refinance option is right for you, we have experienced loan officers who can guide you through the pros and cons of each scenario and help you pick the one likely to provide you with the highest overall savings. Find out if it makes sense to refinance with our Refinance Calculator.

We’re a local, family-owned mortgage firm based in Bellevue, WA. We serve the broader Pacific Northwest region, including Washington, Oregon, Colorado, Idaho, and California. Please contact us today with any financing-related questions you have, or visit our website to get an instant rate quote.