Refinancing, are you being told the truth when they offer a super low rate and no closing costs
Headline ads often quote temporary buydowns, ARM teaser rates, or perfect-credit scenarios that very few borrowers qualify for.
The real, fully indexed 30-year fixed rate is meaningfully higher once you look at actual pricing.
“No closing costs” usually means one of three things
Lender credits: The borrower pays through a higher interest rate.
Seller concessions: Only possible if the seller agrees — not universal.
Costs rolled into the loan: Still paid, just financed over time.
Rate buydowns are being marketed as permanent
2-1 or 1-0 buydowns lower payments only for the first year or two…
The skinny
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