What if rates go down or I decide I want to refinance? Do I have to
pay closing costs again and again?
How our program works:
With other firms, the customer gets the best rate he can get at
the time of purchase and is locked into either a fixed rate which is
higher to start with, or an adjustable rate that could keep going up
and up. If the customer ever wants to obtain a better rate, he/she must
pay thousands in closing costs again just as when he/she purchased his/her
home. Plus, if rates have not improved the only way to get a better rate
is to pay points and "buy-down" the rate.
Not so with Trust Mortgage of Bemidji Inc...
In our line of thinking, you should be able to refinance any time you want
in the future if rates improve. That's why we continue to pay your closing
costs again and again to keep your rate as low as possible. Of course we
are limited by the market like everyone and if rates go up and it is difficult
to get a better rate. But if rates improve, which they always do eventually,
we will take you down at no cost. That is the benefit of buying your home
with us to start with. Pay the one-time $500 fee, and never pay a dime more
again. Never worry about paying thousands to refinance.
