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Zero Cost Loans

Thousands of homeowners have refinanced using zero cost loans. Some refinanced multiple times, riding rates all the way down the curve in 1993, 1996, 2003, and, more recently, in 2009-2012.  The way this works is that there is a secondary market that buys the loans from all the lenders that make the loans.  This secondary market pays a premium for higher note rates, and this premium is passed through to the originating lender in the form of rebate pricing.  You can also think of this as negative points. This rebate pricing is used to pay for your closing costs.

Should I pay points and/or fees to get a lower rate?


1st Rate Mortgage Services, LLC NMLS #216585
327 Dahlonega St., Suite 104 B, Cumming, GA  30040
Office:  (470) 839-8777
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A Georgia Residential Mortgage Licensee #32549
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