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no closing costs: Best Interest Rate or Low Closing Costs, which is better? - 05/17/12 05:37 AM
Best Interest Rate or Low Closing Costs?
One of the most confusing areas for consumers in a mortgage loan transaction are closing costs. There are advantages and disadvantages of the highly advertised no closing cost loans.
First and foremost, there is no such thing as a zero cost loan! No one works for free!
Everyone knows there are costs associated with getting a mortgage loan; appraisal, credit reports, state taxes, county recording fees, title companies fees, lender fees, escrows, and more. Someone has to pay these fees, and it is always YOU. How you pay them is you need to understand.
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no closing costs: No Closing Cost Loans Cost Money - 01/31/12 09:20 AM
I constantly receive requests for a No Cost loan. Sadly there is no such thing.
All loans have closing costs associated with putting the loan together.
Just like you, participants in the mortgage loan process don't work for free. The Appraiser, Title Officer, Title Insurance, County Recording Fees, Minnesota Mortgage Registration Tax, as well as your lender all need to get paid as part of the process.
Each of these parties charge fees for their service in processing and funding your loan. The Lender's responsibility is to explain to you what the services and costs are, and to give you an … (1 comments)
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no closing costs: No Closing Cost Mortgage Refinance? BUYER BEWARE? - 07/27/10 06:37 PM
No Closing Cost Mortgage Refinance? BUYER BEWARE? Good or Bad Idea? YOU DECIDE after reading this...
St Paul, MN: Mortgage interest rates are currently at historic lows. Your mailbox and the airwaves have become full with mortgage companies competing for your business. Many of these advertisements are for "No Cost" or "No Lender Fee" loans.
Are No Cost Loans a Deal? For most people, usually not.
One of the most confusing areas for consumers in a mortgage loan transaction are closing costs. Here I'll explain the advantages and disadvantages of the highly advertised "no closing cost" or "low cost "loans.
First … (0 comments)
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Joseph Metzler MLO MMS NMLS # 274132
,
MN
More about me…
Mortgages Unlimited, Inc
Address: 33 Wentworth Ave E #290, Saint Paul, MN, 55118
Office Phone: (651) 552-3681
Email Me
Mortgage industry news and insights from a 15+ year industry expert. Mortgage are Real Estate News You Can Use.
Joe is a Certified Minnesota Mortgage Specialist, who provides home mortgage loans not only in the Minneapolis, St Paul area, but all of Minnesota and Wisconsin.
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