Provided By Yahoo! Personal Finance
Many lenders will offer a 'no-cost' loan in lieu of a traditional mortgage. 'No-cost' loans are generally priced at a higher interest rate than a traditional mortgage. The higher rate allows the lender to make enough money on the interest rate spread from the underwriter to pay for all your closing costs and provide them with their profit. Go to the calculator to help determine if a no-cost loan with your lender is better than a traditional mortage.
If you have questions about home loans give us a call at 972-772-7000 or email us at rockwall@kw.com.
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