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live in NJ. in 2nd yr of 30 yr FHA 4.75%. want to refi, but cannot afford closing cost. can I roll?

I live in Jackson, NJ and in the 2nd yr of our 30 yr FHA at 4.75% and want to refi.  We have excellent credit and but cannot afford to foot the closing cost out of pocket.  Are there any options out there for an FHA in NJ to refi and include ALL cost to refi?  Or should I just stay where I'm at?
  • October 23 2012 - Jackson
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Answers (1)

The lender would offer a lender credit to offset the closing costs.  Depending on how much they are going to be would determine what the rate would be.  The other matter to consider is that you monthly mortgage insurance is going to go up offsetting some of the savings that you would see from the rate. I would be happy to break down the numbers for you if you would like to contact me through my profile

  • October 23 2012
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