New Market Mortgage

Our signature specialty

Refinance Your Chicago Home With $0 Closing Costs

We pay your closing costs on qualifying refinances. No out-of-pocket fees at the table — just a lower rate, a shorter term, or cash in hand.

Why Refinance Chicago?

  • $0 closing costs on qualifying refinances

    No appraisal fee, no lender fee, no title fee paid out of pocket. We cover them in exchange for a slightly adjusted rate — and for most borrowers the math comes out ahead within 12–18 months.

  • Rate-and-term refinance to lower your monthly payment

    If rates have dropped 0.5% or more since you took your current loan, a rate-and-term refi typically pays for itself fast. We'll run the break-even math on our first call so you know exactly where you stand.

  • Cash-out refinance to consolidate high-interest debt

    Pay off credit cards at 20%+ by rolling them into your mortgage at 6–7%. Many Chicago homeowners cut their total monthly payments by $500–$1,000 this way. Read our debt consolidation guide below.

  • Shorten your term without a huge payment jump

    Switching from a 30-year to a 20- or 15-year term often costs less than you'd expect once the rate drops. You'll pay off the loan sooner and save tens of thousands in interest.

  • Close in as few as 15–20 days when it matters

    When a rate lock is about to expire or you need to close fast for another reason, we can compress the process. Tell us the deadline up front and we'll prioritize your file.

Frequently asked questions

How does a $0 closing cost refinance actually work?
We pay your closing costs (appraisal, title, lender fees) in exchange for a slightly higher interest rate than the par rate. For most borrowers the monthly savings still significantly beat the old loan. We'll show you both options side-by-side so you can pick the one that wins for your situation.
When does refinancing actually make sense?
Three common triggers: rates have dropped at least 0.5% since you took your current loan, your credit has improved meaningfully, or you want to tap equity for consolidation or home improvements. We'll run the numbers on our first call and tell you honestly whether it pencils out.
How long does a refinance take in Illinois?
Typically 30–45 days from application to closing. Illinois is an attorney state so closings include an attorney review. Cash-out refinances include a mandatory 3-business-day right of rescission after signing before funds disburse.
Will a refinance hurt my credit score?
There's a small, temporary dip from the hard credit pull (typically 5–10 points) that recovers within a few months. Multiple mortgage inquiries within a 14–45 day window are counted as a single inquiry for scoring purposes, so shopping lenders responsibly doesn't compound the impact.
Can I refinance if I'm underwater or have limited equity?
In many cases, yes. We work with high-LTV refinance programs including the FHA streamline refinance for existing FHA borrowers. Tell us your current balance and home value during pre-approval and we'll tell you which programs apply.

Keep exploring

$0 closing cost program details
How the no-cost refi works
Debt consolidation guide
Save $500+/month with a cash-out
Run the break-even math
Estimate your new payment
Second mortgage vs refi
When each makes more sense
Mark Daszynski

Mark Daszynski

Mortgage Broker

NMLS #220036

35+ years in mortgage lending

Prefer to talk?

(773) 777-4434

Mon–Fri 9am–6pm CT

NMLS #232966 | Illinois Residential Mortgage Licensee MB.6760225