NONO

NO POINTS! NO CLOSING COSTS!
	Our NO POINTS! NO CLOSING COSTS! option enables our customers to avoid non-recurring closing costs while locking into competitive interest rates. When you choose a NO NO you will receive a lender credit at closing that will pay your non-recurring lender closing costs, allowing you to close with less money up-front. We serve customers with a wide variety of home financing goals in mind making every transaction unique. Our Mortgage Consultants can offer a variety of interest rate and point combinations to meet your goals. The NO NO option is well suited for those who prefer minimizing their up-front expenses, because it requires the smallest investment at closing. Our NO NO option can be advantageous for both refinance and purchase transactions. Have your questions answered today by contacting a Mortgage Consultant with Freedom Choice Mortgage and let us help you meet your home financing goals.
REFINANCES The NO NO option on a refinance is the easiest way to lock into a lower interest rate resulting in immediate payment savings with no up-front investment in closing costs. Imagine a borrower with a loan of $200,000 at 6% for 30 years, their monthly principal and interest payment would be $1,199.10. They are now interested in refinancing at the lower quoted NO NO rate of 4.95%. If this borrower chooses to refinance using the No No option they can immediately save money without having to give consideration to paying lender’s closing costs. And should interest rates continue to decline, the borrower can simply refinance again to generate additional savings.
PURCHASES The NO NO option can work extremely well to purchase a home with less money up-front and allow for more flexibility to refinance later. In a transaction where a borrower has limited funds available for closing a NO NO can free up more cash for the down payment or help save for improvements or repairs to their new home. Additionally, if a borrower is closing on a purchase of their new home but speculate that interest rates are declining the borrower may want to refinance shortly thereafter a NO NO loan could put them in the best position to do so.