No Cost Loans: What Fees Don’t Get Paid?

It costs money to buy a home. Sure, this doesn’t surprise you. But you’ve seen ads for no cost loans, right?  You will pay these costs one way or another.  So let’s look at the costs. An eye-opening fact is that you will spend more money on your home than you will on anything else...

What Is (Not) a No-Cost Loan?

You’ve undoubtedly seen or heard ads by mortgage lenders for no-cost or no-point loans, no out-of-pocket cost loans, or loans with super-low interest rates. Would it surprise you to know that these are all the same loan? That’s right! All loans cost money to originate. The difference between them is how you pay for the...