Video Transcript:
Many people think a 'no-cost' loan is totally free. But that's not really true. The cost is just hidden, paid for in ways you might not see at first. I’m David Ghazaryan, and I always check the Loan Estimate document first. This paper shows the truth, revealing how lenders cover costs by giving a higher rate. The lender pays the fees by giving you a slightly higher interest rate than you deserve, or by adding the total cost directly to your loan balance. We turn this into an advantage. We just divide the total cost of the loan by the money saved each month. This gives us our break-even point. If you know you will be moving in two years, a no-cost loan makes perfect sense. But if you plan to stay, paying fees upfront saves more money. I explain this with more numbers on my platforms and in the full article. You can see all the links to these resources in the description below now.
Read Blog Here: https://www.iqratemortgages.com/blog/no-cost-va-irrrl-in-jacksonville-uncovering-hidden-fees
