You could save thousands on closing costs…or could you?  The bitterness of a high-interest rate for the life of your loan will remain long after the sweetness of lender-paid closing costs are forgotten. Lender-paid closing costs rarely save you thousands, unless you sell your home in a very short time frame, like within a couple of years.  Instead, you will pay thousands more over the life of your loan if you ask your lender to pay your closing costs. Don’t be fooled. Government recording, documentary stamps, intangible tax, title charges, appraisals, surveys etc. all have to be paid.  How do they do it?  Simple:  By raising your interest rate, the lender makes more money on your loan….a lot more money! 

No Closing Costs = "Higher Rate"

Simply put, if you ask your lender to pay your closing costs upfront at closing, you will pay a higher interest rate which will result in higher monthly payments, thus enabling the lender to recoup closing costs they pay on your behalf at closing.  For example:  If you are getting a $200,000 mortgage, a lender can make as much as $2,500.00 excess revenue for every additional quarter percent interest they raise your rate.  We can pay your closing costs too, however it is rarely in your best interest to do so.

Tip:  Know "YOUR SCENARIO" before getting a quote.  For a free quote, and to see if you really are getting the best deal, please provide the following details below.  We will be happy to provide you with all your options.

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Services Provided by: Giles Wardian of Team Innovative (407) 963-1151

Licensed Mortgage Specialist NMLS #349296

Innovative Mortgage Services, Inc. NMLS #250769