Is there such a thing as low cost and no cost refinance programs?
Yes and no. As they say, in life, rarely is anything free. One way or another, you pay for it in some way. Like life, a no cost refinance usually builds the cost of the refinance into the amount of interest you pay. About the closest thing to a no cost/low cost refinance is the FHA streamline refinance program. Even then, you still have to pay third party costs — and if you want no lender/origination costs (i.e. you don’t want to see the loan officer get paid), it will be charged into the interest rate.
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