15 year refinance rates no closing costs

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  1. – No. Most mortgage companies set the backend yield on their rates so high that there is not enough credit available from the rate to offer a no closing costs mortgage. For example, the average closing costs and pre-paids associated with buying a home is about 3% of the purchase price. Since the rates typically yield no more than 5% on the backend of the loan there is not enough credit available.

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