No Cost Mortgages Help Alaska Homeowners

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Published: 12th April 2011
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Many people feel as though they are being taken "hook, line and sinker" when they

are told they can qualify for a "NO COST MORTGAGE LOAN." There are many

cases where loan officers try to use jargon of "NO Cost" to entice consumers when

really the loan officer intends to add the closing costs to the new loan and increase the

principal balance – this should be referred to as a "no money out of pocket" loan – BIG


There is HOPE as NO CLOSING COST Mortgage do exist – certain originators such

as Dustin Carlson are still able to do a True "NO COST LOAN" where there are not any

closing costs out of pocket and NO closing costs added to the loan…this is a program few

people offer but it is still available for many homeowners and can be VERY beneficial.

This program may have a slightly higher interest that the "lowest advertised rates" but it

is often the best option for many consumers.

Here is an example of how it is beneficial for you to do a no/low cost loan:

This example will assume a $250,000 mortgage payoff on a 30yr fixed loan (taxes and

insurance are not included in the calculation as they are not determined by the loan but

instead by the insurance company and local government).

Option 1: Traditional closing costs of 1% origination and all third party fees

added to the loan. This would equate to a new loan balance of approximately

$255,380 and a principal and interest payment of $1293.97 per month at 4.5%.

Option 2: No closing cost loan with no closing costs or third party fees added

to the loan or paid out of your pocket. This would equate to a new loan balance

of approximately $250,000 and a principal and interest payment of $1323.02 at


ANALYSIS: The difference is loan balance is 5,380 and the monthly difference

in savings is 29.05 per month.

At a savings of 29.05 per month it would take 185 months (15.4 yrs) to recover

the $5,380 that was added to the loan amount for closing costs.

Now is the time to start saving money every month and take advantage of the NO

CLOSING COSTS program while it still exists. You can contact Dustin Carlson at or 888 201 1332 or 907 903 1269

What is the Best Mortgage Loan Available in Alaska?

There are many options today as a consumer when you consider purchasing or

refinancing a home. Often time there are so many options shown to you that very quickly

it becomes overwhelming and your head "starts to spin" with the jargon and information

that inundates you.

This is why it is very important to have a top loan officer working with you that does

high volume and has access to special programs for your situation…if you need the very

lowest rate, self employed, No Closing Costs, or a different unique situation.

A client’s experience and understanding of the process is very important as it is often

much like going to the mechanic…we are unsure of all the details and do not have a

full understanding, since it is such a complex and dynamic industry that has changed

dramatically the last 3 years. One of Dustin Carlson’s recent clients said it well;

"Thank you for making this refinancing process go so smoothly. You both were

very professional and fast in replying to my questions and concerns. You kept

me updated every step of the way, which was very appreciated. I will most

certainly recommend you both to my family and friends. Thanks again."

Mark L. – Anchorage, AK

Howard V. – Anchorage, AK also valued having the necessary insight and understanding

to this often times intimidating process:


Thank you for your help and explanation. We look forward to the processing of

the loan and are very happy to do business with you.

You have gone above and beyond to help us and get this done.

Again Thank You"

You too can have a good understanding of your options, the benefits and risks associated

with financing your home whether refinancing or purchasing. It is as simple as a phone

call to 907 903 1269 or an email to

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