This is a YouTube video titled "Ep 66 🚨 How to Refi with $0 due at Closing 🚨" containing a monologue or single-speaker explanation about refinancing loans, specifically discussing costs, loan amounts, and payment adjustments as of September 2, 2021. The content explains how closing costs can be rolled into the loan to avoid out-of-pocket expenses.
Common question I get from people looking to refinance right now is if there's cost involved in doing so, out of pocket. So here's an example scenario $350,000 loan amount. That'd be about a $1,500 principal and interest payment. And I just estimated five grand in closing costs, taxes, insurance, escrow, all of it. A common option would be to roll this five grand into the loan, takes the payment up $25 a month, and there's no money out of pocket. So really, you're exchanging five grand out of pocket for $25 a month. It follows along this kind of golden rule. $5 per month for every thousand rolled in very common way of doing so. SA.
