How can I save even more up front?

Over and above the interest you will pay on your mortgage or refinancing loan are the dreaded Closing Costs. The "cash needed to close" can include:

• settlement fees
• prepaid interest
• escrow reserves

Your Lentegra mortgage consultant will educate you about these fees well in advance so there will be no nasty surprises at the close. However, you may be able to "roll" costs into your loan. This can be especially useful for first time homebuyers who need their cash for other things - like furniture! Refinancers can "cash out" some of their home's equity to roll some of the cash due at closing into the new loan.

The bottom line is that in many cases you can reduce your up-front costs for a new or refinanced mortgage in exchange for slightly higher monthly payments for the life of the loan. Ask your mortgage consultant about your options.