No Closing Cost Loan

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Our No Closing Costs program has resulted in profound savings for our clients. It is the only logical approach to achieve the lowest cost home mortgage today. There is no smarter choice you could make.

The No Closing Cost program is ideal for homeowners who lower their monthly payments without paying closing costs.  It may be applied to the refinance of owner occupied, second homes, single family homes, town homes or condominiums in Florida. Underwriting guidelines limit approval to applications with excellent credit and sufficient income to qualify.  The minimum loan amount is $125,000 and the maximum is $417,000.

Every Florida Mortgage Corporation client has saved thousands versus any other rate, term, ARM or other mortgage program they might have chosen. 

With No Closing Costs the decision to refinance is easy.  If our "No Closing Cost" rate is lower than your current rate, replace it and save.  It's that simple.  There is no "rule of thumb" to justify refinancing when there are "no costs".  Even at the same rate you may currently have, logic and history suggest you take all you can get under these terms.  If rates go lower you simply refinance again to lower the rate.  It's easy and it's free.  If rates are never lower, this will be the cheapest, longest term money you may ever have had the opportunity to borrow in your lifetime.

Given this phenomenon you are better off with excess equity invested elsewhere.  Fact is, you can easily match or beat the tax deductible interest costs with investments as risk limited as municipal bonds.  Logic suggests it, history proves it.

Minimum $125,000 Loan

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Rates applicable to approved loans ready to close within thirty days.  (signed application and borrower furnished documentation received).  Longer lock-in terms are available.  Rates and terms are subject to change without notice.  Property must be owner occupied or second home, single family, town home or condominium residence in the State of Florida.  Fannie Mae underwriting guidelines apply. Minimum loan amount $125,000. Maximum LTV 95%.

Interest rates, data and program guidelines are subject to change without notice and are not guaranteed. All mortgage programs feature a  brief outline with basic information only. Other restrictions apply. Borrower should contact Florida Mortgage Corporation for details and full written disclosures.