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Be careful with those no cost refis many times they say no closing cost but they rape you on your interest rate. Shop the rate and ask what their lender paid comp is. Some lenders pay an average of 2.5% so they have to increase the interest rate to pay for their commission of 2.5% plus your closing costs. Which could be a difference of .750 to .500 added to the interest rate. Sometimes your best bet is to go with a credit union they usually pay their loan officers salary and their lender paid comp is 1% which will yield you the lowest rate.
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