No-Cost-Refinance
Many people start out with an adjustable rate mortgage because the payments are very low at first. However, if you keep them long enough you can end up paying too much. If you've had an ARM for 2 or 3 years it may be adjusting to as high as 9.0% in today's rate environment. You don't have to accept this rate increase.

Our "No-Cost" program will lower your rate at no cost to you. We pay all of the closing costs such as title fees, escrow fees, appraisal fees, and credit report fees. There are no loan fees or prepayment penalties and nothing is added to your loan balance.

This is a true "can't-lose" situation for you as a homeowner - you get the benefits of a lower rate of interest while incurring no costs to refinance. In many cases you can actually tap into the valuable equity that you have accrued on your home by taking "cash-out" in the refinance.

No-Cost-Refinancing Questions & Answers

Is it truly No-Cost?
Yes. You pay absolutely no points, fees, or closing costs of any kind. Other lenders may advertise "No-cost" loans but they add fees to your loan balance or the loan has an expensive prepayment penalty. None of our loans are structured this way.

Are there fees, who pays them, and how are they paid?
Fees such as appraisal, title, escrow, and credit report fees are being incurred, but the new lender pays for everything to get you as their client. The new lender also pays Arboreum Mortgage to perform the service. You, however, pay nothing and will not have any costs rolled into the new loan amount.

Is anything added to my new loan amount to cover fees?
No.

Are there any penalties to refinance my no-cost loan in the future?
There are no prepayment penalties of any kind. This allows you to take advantage of any future rate declines by refinancing at no cost again.

If I pay thousands in points and fees, would my rate be lower?
Yes. However, it would also take years to break even on your fees. Paying costs assumes rates will never get better and you will never refinance or move. With No Cost loans you pay nothing, so you are free to take advantage of any future drops in interest rates. If you invest what you would have paid in fees in mutual funds, you will likely make money instead of paying it. No cost loans make sense if your new rate is lower than your old rate - it is that simple.

What is a streamlined refinance?
Streamlined loans require less documentation so they go much faster. Most lenders only require 2 years W-2's, 2 pay stubs, and your last bank statement. Once you are an Arboretum client, all of this information is kept on file so you can quickly take advantage of any future rate drops. Refinancing is hassle-free once you're with us. Your mortgage is likely your largest debt, and your house is likely your largest asset. They both deserve full time, informed monitoring to maximize future opportunities.

Check out our prequalification page to see if a No Cost refinance makes sense for you!

Quick Turn-Around
Once you apply for a loan with Arboretum Mortgage things happen quickly. You won't be kept waiting for an answer or for loan approval because our goal is to close all loans within 3 to 4 weeks. Because of our streamlined approach it is not unusual for a loan to close in only 2 weeks. Virtually all of our loans are approved locally so they are approved quickly by people who understand our local market.

Our Unique "No-Risk" Guarantee
We collect NO fees up front. Deposits for credit reports, appraisals and any other cost associated with the transaction are collected at closing. If we don't perform to your satisfaction we don't get reimbursed for these costs...