Wow, no closing costs, what a great deal. Well, yes, because you won't have to come to the closing table with hardly any money out of your pocket. Just watch out for catchy phrases. They can bury you, just as if you were buried under a pile of rocks. That you can't dig yourself out of this.
So, Advertising, it can be really catchy at times. As a consumer that might not know any better, this sounds like an awesome deal. NO CLOSING COSTS!! Sign me up and 50 of my friends and family members. Because that last lender was charging me about $5,000 in costs.
Reality check: When it sounds too good to be true, it's because it usually is too good to be true. Why is this?
Take a peak here for the reasons why, because you might not like the answers. (this opens in a new window)