No Closing Cost Loans

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Real Estate Closing Cost Tips and other Real Estate topics.

Should a get a loan with no closing costs?

No Closing Cost Loans

All real estate transactions include closing costs. When a loan is described as having 'no closing costs,' it simply means that the closing costs are rolled into the loan. This may be an advantage for a first time buyer who is trying to scrape together a down payment. Generally speaking, however, it's wise to pay the closing costs at the closing, if at all possible. If you get a 'no closing cost' loan, you are, in effect, paying for those closing costs over thirty years (or whatever the term of the mortgage might be).

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Real Estate Tip Site? Request a Tip Now!


Guru Spotlight
George Sayour