Tag Archives: PA

zero closing cost

Pennsylvania No Closing Cost (NCC) mortgage information

No closing cost mortgage tips and background information.  Break even analysis.

The No Closing Cost mortgage is becoming very popular in Pennsylvania.  It was started and the word was spread in 2006 by a large bank as a marketing idea to bring in new business as things were starting to slow down in the mortgage industry due to rates being up and the refinance boom being over.  Now, we are receiving calls for these loans every day.  But, we do not always recommend them and here is why: Continue reading Pennsylvania No Closing Cost (NCC) mortgage information

Photo by:  Pierre-Olivier Bourgeois

Should you consider financing closing costs, escrow reserves, or other cash needed at closing?

The first question we ask is, “How long do you expect to keep this mortgage?”  We will then determine a break even period for you.  That will tell us how many years (to the month) it will takes to break even for paying more money at closing to obtain a lower rate. Continue reading Should you consider financing closing costs, escrow reserves, or other cash needed at closing?