No Closing Cost Loans: A Smart Option for Many Homebuyers
When DNJ Gateway Mortgage says we offer no closing cost loans, we mean it!
While others may talk of no closing cost mortgages or no cost loans, what they really mean is that your first-time loan or loan refinance closing costs are rolled into your total mortgage amount, costing you thousands more in interest over the course of your loan.
Our no closing cost loans are just that. We pay every fee normally associated with new home and refinance closing costs, so you’ll pay:
- $0 Origination Fee
- $0 Appraisal Fee
- $0 Application Fee
- $0 Attorney Fee
- $0 Title Insurance Fee
- $0 Recording Fee
No Closing Cost Mortgages by the Numbers
A DNJ Gateway Mortgage loan specialist can help you answer that question more specifically based on your circumstances.
However, the break-even analysis below can help you determine how many months you would need to keep this loan in order to earn back the closing costs associated with a new home purchase or a home refinance.
The Break-Even Analysis: The Key to Evaluating No Closing Cost Loans
| No Cost Loan | Paying Closing Costs | |
| Loan Term | 30 Year Fixed | 30 Year Fixed |
| Loan Amount | $325,000 | $325,000 |
| Interest Rate | 5.25% | 5.00% |
| Monthly Payment | $1,795 | $1,745 |
| Closing Costs | $0 Costs | $2,600 |
| Years to Break Even | Save the first month | 4.3 |
Note: While savings and break-even are typical, these may not be current market rates.
Find Out if Our No Closing Cost Loans are Right for You
Homebuyers from Maryland, Virginia, North Carolina, South Carolina, Georgia and Florida can take advantage of our no closing cost mortgages and save thousands of dollars in closing costs over conventional loans.
Learn more today by calling one of our North Carolina offices, or contact us toll free at 877-9-NO-COST (877-966-2678)!
DNJ Gateway Mortgage proudly serves clients in Raleigh, Durham, Chapel Hill, Cary, Apex, Greenville, Fayetteville, Fort Bragg, Greensboro, Winston Salem, High Point, Wilmington, and Charlotte, NC, and surrounding areas. We also offer mortgages in South Carolina, Virginia, Maryland, Georgia and Florida.
