The Catch Behind No Closing Costs Refinance Loans

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By Bryan J Quinn

You may have heard about No Cost Refinance or Free Refinance. The concept implies that the only thing charged on this kind of loans is interest. Those who promote this, claim that there are no closing costs, no additional fees, etc.

The financial industry has become increasingly competitive over the past years and lenders are desperate to attract customers, thus forcing their creative media guys to come up with new appealing concepts so as to take hold of as many clients as possible.

There is an old saying stating that ‘there is nothing really free’, and when it comes to this kind of loans, the saying turns out to be just perfect. So, you want to know what’s the catch with No Closing Costs Refinance? Read on and you’ll find out what lenders have prayed for you to ignore.

No Closing Costs Refinance

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Those lenders who offer this kind of loans state that you’d be saving thousands of dollars on closing costs. Well those ‘thousands of dollars’ add up to $3000, $4000 at a most. But if you pay attention to the interest rate they charge on No Closing Costs Refinance Loans you’ll notice that it’s almost 2% above the average interest rate offered by other lenders.

So their claim is only partly true. They are charging no closing costs at all, but what they make you save by not charging any fee, they compensate with overpriced interest rates. If you do your math, unless you’re requesting a 12 months refinance program, chances are that you’ll be paying a lot more than those $4000 in closing costs.

Avoid being tricked

Though ethically questionable, there is nothing illegal about these practices so you need to be particularly careful when looking for a refinance loan. What you may think is an excellent offering, can turn out to be a rip off. Always ask for loan quotes and take your time to analyze them, never rush in and don’t let loan salesmen trick you into signing something you don’t want to sign.

Whenever you hear ‘interest rate is a bit higher’, find out how higher and whenever you hear ‘you’ll save thousands of dollars on closing costs’, find out how many thousands. Do all the research you need to, till you find which lender is best for you.

Focus on the Interest Rate

Always remember when it comes to refinance, unless you are refinancing a small amount cause you’ve already paid almost all of your mortgage, you should focus on finding the lowest interest rate available. It is the only true way of saving thousands of dollars with a refinance home loan and anyone who tells you otherwise is lying.

So don’t pay attention to those offering incredible refinance programs at no cost and search the internet for refinance home loan lenders, request quotes and compare interest rates and fees. Once you’ve selected the best deal contact the lender in order to apply for the loan. Take your time to make a conscious decision and you’ll avoid costly mistakes.

About the Author: Bryan Quinn is a financial advisor with more than thirty years of experience in the field of finance who aids people undergoing financial problems and helps them obtain personal loans, home loans, student loans and grants, consolidation loans, car loans and many other financial products regardless of their credit situation. For more smart tips on Home Loans you can visit

and also learn more about other financial options.


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Home Path Mortgage: Tips For Buying Fannie Mae Bank Owned Foreclosure Homes

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By Simon Volkov

Fannie Mae’s Home Path Mortgage program offers mortgage lenders and borrowers cash incentives to buy bank owned foreclosure homes. In addition to offering properties at substantially discounted prices, Home Path only requires a minimal 3-percent down payment along with flexible mortgage terms.

Homes for sale through Home Path Mortgage include single family homes, townhouses, and individual condominium units. Fannie Mae bank owned properties are sold in “as is” condition. Most properties require some level of repair, so buyers should engage in due diligence prior to submitting an offer.

Depending on property condition and location, Fannie Mae occasionally makes minor repairs to improve the home’s marketability. Houses in need of significant repair work may qualify for Home Path’s renovation program which allows borrowers to acquire additional funds for repair through the home mortgage loan.

Home Path Mortgage can be an excellent option for first time home buyers and individuals unable to provide a large down payment. One unique feature of HomePath is borrowers are allowed to use down payment funds provided by outside resources. Down payment assistance money can be obtained as a loan or gift from family, friends, employer, non-profit group or charitable organization.

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Buyers of Home Path Mortgage properties can also apply for down payment assistance funds through the Department of Housing and Urban Development Neighborhood Stabilization Program. NSP grants are available to individuals and real estate investors who wish to purchase Fannie Mae bank owned foreclosure homes.

Not all Fannie Mae homes qualify for special financing and down payment assistance programs. Interested buyers can locate qualified properties through the HomePath Mortgage website at

Buyers can apply for financing through the mortgage lender of their choice. It is best to comparison shop to determine which lender offers the lowest interest rate. An additional 1/4-percent interest can add thousands of dollars over the duration of the home loan.

Prior to submitting an offer on Home Path properties, buyers must obtain bank prequalification. Although prequalification does not guarantee financing, it does let borrowers know how much money they can afford to borrow. Prospective buyers can apply for prequalified lending through the mortgage financier of their choice.

Buyers of HomePath foreclosure properties can obtain up to $8000 tax credit against homes purchased prior to June 30, 2010. First time home buyers can receive an $8000 tax credit, while homeowners can receive a $6500 tax credit if they upgrade to a more expensive home and have resided at their current residence for five or more years.

Additionally, Fannie Mae is offering a 3-1/2-percent incentive to buyers who purchase and close on HomePath properties prior to April 30, 2010. Buyers may receive up to 3.5-percent of the final sale price for closing costs; purchase of Whirlpool appliances, or a combination of settlement costs and appliance purchases. Mortgage lenders may impose restrictions on use of the 3.5-percent incentive, so buyers should consult with their mortgage service provider for guidance.

Individuals interested in buying Fannie Mae foreclosure homes through Home Path Mortgage should take advantage of the federal housing tax credit and cash incentives prior to scheduled deadlines. Learn more about Fannie Mae’s home buying program and locate a list of participating lenders at

About the Author: Learn more about buying Fannie Mae bank owned foreclosure homes and the

Home Path mortgage

program from real estate investor and author, Simon Volkov. Simon offers hundreds of real estate, investing and personal money management articles via his website at



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Ways To Find Best Electrician For Generator Repair And Maintenance}

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Submitted by: Shevvy Bowman

On reference of today world,electricity is of prime significance to our life. Most of the commercial industry and machines as well as residential, work on electricity. It is used to make our work easier as well as to induce a healthy, comfortable, and hassle free lifestyle. However, none of us are ignorant of the problems of load-shedding or sudden power-cuts. Even a few hours without electricity can hamper the normal functionality and productivity, whether at home or at office. Generators have been in charge with the aim of supplementing the shortage of power during such load shedding. However, there exists times when we are with sudden breakdown of generators. At those times you must call for emergency generator repair & maintenance services. There are specialist who will attend to your problem immediately and will repair or service the generators to restore smooth functioning. But, you need to make sure that you are calling the right electricians who have the expertise in dealing with generator repair. Here’s how you will know that the service providers you are contacting is right for the task:

The first thing that you should check whether the service provider you are hiring has the license to do the repairing of generators. Check whether the electricians have a registered office. Unlicensed and unauthorized persons should not be allowed to handle electrical machines.

* Electrical jobs are associated with various risks. That is why it is mandatory to check whether the company you are choosing is having proper insurances. Do not believe their word of mouth; instead, check the validity of their insurances by checking their documents.

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* Check whether they are well equipped to handle generator repair. Repairing suchlike machines require specialized tools and equipment. Make sure the service providers are trained and knowledgeable to handle different tools and equipment.

* Ask the experts about the safety measures they might take while repairing. There are various measures to take for electrical jobs to safeguard life and property from accidents.

* Check whether the electrical contracting company you are contacting offers emergency services. Such services will be required when there is a sudden breakdown of the generator. Moreover, emergency services can save life and property from fatal accidents and fire. Call up and check whether they are responding promptly to your call.

So, are you seeking the best electrical contractors for generator repair and maintenance best yorkshire based service providers are known for providing the best and fastest services for electrical (generator) repair. Choose a renowned one to ensure that the electrical project is completed timely and within your budget.

Or else Our professional electricians can come to your home and diagnosis any electrical problem you may be having. Our electricians and resources are fully stocked to ensure that we have the right tools and materials to ensure the best service for your home electrical requirements. We will do all your electrical work personally to guarantee an excellent job for you. We focus on quality as well as durability in order to maintain great relations with our customers. All the electrical materials we install for your project will be the finest that are available.

About the Author: AS a great analyzer I deliver my motive in awaring people about business consultants like generator maintenance and repair contractors, electrician providers etc.


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College Scholarships: How To Find Money For School And Get The Help You Need!

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By Larry Evans

Many potential college students don’t end up attending university due to a lack of money, however there are thousands of college scholarship programs available. Here is a list of the most common types of college scholarships that students can apply for:

— Private organisations

— Corporate awards

— College-specific awards

— Athletic award

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— Union funded scholarship

— Military scholarship

— Academic scholarship

— Departmental awards

College scholarships awarded by the college that a student is attending are subject to strict terms of acceptance. This type of college scholarship is constantly re-evaluated throughout the length of the course that the student is funded for and can be withdrawn if the student fails to keep to the agreed terms.

An athletic scholarship is fairly self-explanatory but this type of college scholarship is probably the hardest for a student to obtain. There are hundreds of thousands of highly gifted athletes from a range of sports every year that apply for an athletic college scholarship and the numbers awarded are extremely low. It is worth bearing in mind that only the top flight schools will offer an athletic college scholarship.

The academic scholarships are one of the few that do not actually require the student to apply for them. This is because the college normally awards an academic scholarship based on the college application alone. Obviously, the very nature of an academic scholarship means that a student will require outstanding academic potential to be offered a full academic college scholarship and it is more common for a particle college scholarship to be awarded.

A departmental scholarship is most commonly awarded by a specific department of a college to either attract or retain students for courses run by that particular department. The individual department will provide information as to whether they offer any type of special scholarship or not.

There are many private organisations that offer some form of partial college scholarship. These often depend on the area that a student lives in but national organisations may also offer a student a college scholarship but the competition for these can be fierce.

On the other hand, many corporations actually have a college scholarship program but fail to award them because of a lack of applicants. The corporations may offer a college scholarship to students to attract them into the particular line of work that the corporation is in or simply to offer students in their community the chance to attend college.

Unions have a large amount of money allocated to a college scholarship fund. These are usually aimed at students who are going to enter a field of study related to the type of union.

Finally, the various branches of the military all have an extensive college scholarship program. A military college scholarship is often extremely generous but is awarded in exchange for a pre-agreed length of service after graduation in the particular branch that sponsored the student.

About the Author: Excellence In Academic Endeavors Is Not A Talent That A Person Is Born With. Its An Art That Needs To Be Mastered.

Get Your Art!

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