What are the benefits of the Streamline Refinance Program?
• Fast & Easy • No Closing Cost option (minimum loan amount $100,000) • Streamlined application • Reduced documentation • No appraisal required 5. Is this really a No Closing Cost loan? Provident Funding provides a variety of rate options on all of our loan programs. If you choose the rate associated with the No Closing Cost option, “Yes”, you will not pay the Non-Recurring Closing Costs (NRCC’s) to obtain the new mortgage. Examples of NRCC’s would include: origination fee, title insurance, settlement agent fee, notary fee, commitment/administration fee, or appraisal fee. 6. What are the hidden costs? Nothing is free. The No Closing Cost rate is truly a No Closing Cost loan. By selecting a higher rate you will avoid having to pay the Non-Recurring Closing Costs (NRCC’s). However, please note that by selecting a higher interest rate you will be paying more on a monthly basis than had you chosen a lower rate with upfront fees. The concept is actually quite simple when deciding which rate
