January 17, 2018 ... Your Detailed Information is in Progress
Before you proceed, remember the rules of the road with mortgage rate pricing: the lower the rate, the more expensive it is to obtain. Higher rates will have fewer fees, or no fees due to a credit against closing costs.
This is why the Loanlane site lists different rates within the same 10 Year Fixed to 453,100 mortgage product. Some people want a low rate and are willing to pay the fees. Other people want a higher rate if it means there are fewer or no fees. It's a pay now, or pay later trade-off.
There is no such thing as a "no cost" or "free" loan program. You the mortgage consumer will incur a cost, be it in the mortgage fees, or in the mortgage rate itself.
Are you in a special category?
You are in a special category of borrowers if you are withdrawing cash from your home (aka a cash-out refinance), seeking to keep a home equity line of credit (HELOC), or paying down a HELOC with your new mortgage. If you fall into this category, and usually half of mortgage applicants do, additonal fees - fees imposed by fannie mae and/or the mortgage secondary market - apply to you. We can identify those fees if you email, text, or call.
Please enter a loan amount to continue processing your detailed sample estimate and program notes for the 10 Year Fixed to 453,100 mortgage product. This sample estimate is not intended to be nor should it be contrued as a TILA-RESPA Loan Disclosure. The TILA- Loan Disclosure is only issued to you after you have submitted a loan application and supporting documentation.
The purpose of this credit is to offset, and in some cases, eliminate your non-recurring closing costs.