Rate State Releases Guide to No Closing Cost Mortgage Refinancing

Rate State's latest article explains fully the advantages and disadvantages of bundling closing costs into the interest rate of a mortgage refinance.

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They explain that this route has its downsides, and that it isn't the best option for everyone.

Seattle, Washington (PRWEB) June 21, 2013

To avoid fees for refinancing, some homeowners opt to forgo fees during a mortgage refinance, says Rate State in their latest article. They explain that this route has its downsides, and that it isn't the best option for everyone.

Rate State says, “Some of the fees that are associated with closing a mortgage refinance include title escrow fees, appraisal fees, underwriting fees, and processing fees, to name a few. The truth is, you are going to pay these fees one way or another [when you refinance]. Sometimes lenders can roll your expenses up into a nifty little package and add them to your loan.”

They go on in the article, explaining that the fees are often offset by an increased interest rate. Rate State also explains that for some situations this can be a bad move. To explain fully, they give an example with real numbers, showing how costly these higher interest rates can be.

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Rate State helps consumers compare today’s mortgage rates through their online comparison tool to ensure they are getting the best rate for their home mortgage or refinance before making their next purchase. They provide consumers with access to the information they need in order to make a decision potentially saving thousands of dollars over the term of their next home loan.