Has anyone been able to refinance without paying closing costs?

peabody Posted: Oct 16, 2003 11:13 PM

Has anyone been able to refinance without paying closing costs?

We have a first mortgage and a line of credit, so we could avoid paying PMI because we had 10% of the down payment.

In the future or near future, I want to refinance, but I don't want to pay closing costs all over again. Has anyone gotten around this?

We bought our house July 2002 so we are building equity and the prices of houses in my area have increased (in my opinion alot) over the last year.

kittyke Posted: Oct 17, 2003 07:47 AM

Re: Has anyone been able to refinance without paying closing costs?

Check on this board, I remember someone mentioning no closing cost - I think it was a fannie mae program.

mlp924 Posted: Oct 17, 2003 08:33 AM

Re: Has anyone been able to refinance without paying closing costs?

You can make that a negotiating point. Usually if you refinance with the same lender, they won't charge you closing costs. It is in their best interests to keep you.