No how - no way will a "no cost" refi ever work to your advantage unless there is absolutely

no way to come to the table with closing cost money - meaning you're just about down to your last nickle.

Why? Because there's no free lunch here - meaning the money that you have to pay for closing costs

has to come from the Lender, who isn't going ot have bake sale for you. He or she is going to hike your

rate. How much? That depends on the size of your loan. Let's say 0.500% Now let's say your loan amount

is 300,000. So,if you're rate gets bumped up from 3.5 to 4.0% that adds an extra $85 per month!

A couple of solutions are to get some extra cash are...

a. Gift money from a family member

b. Don't be in such a hurry

c. Rent for a year

d. Don't buy that new car just yet.