Lender Paid Closing Costs

A purchase or refinance that doesn’t require a borrower to pay for any closing costs is a loan transaction in which we provide a lender credit to pay for the associated loan closing fees.

In order to attain a no closing costs purchase or refinance transaction, you will be required to accept an interest rate which will be slightly higher than if you chose otherwise.  Typically the rate will be higher by  1/4 to 1/2 of a point.  So, while it may seem attractive to avoid the upfront closing costs, there is a trade off and it will depend on how long you stay in your home to benefit from this type of transaction.

Our industry trained loan counselors can explain both options and provide you with the necessary education to make the best decision for your unique situation.  At Carolina Home Rates we offer you the choice.