There have been a lot of chatter in Memphis TN recently dealing with idea (no closing cost Loans). Consumers

should be very weary when they're talking with a Mortgage Lender that say's there's no cost in doing a loan. As a

child you may have heard ( nothing in life is free) and this still holds up with Mortgages. Mortgage Professionals get

paid two ways... First way, Loan origination or broker fee. Loan origination or broker fee is an upfront charge to

you as consumer. This fee can be anywhere from 1 percent to five percent depending on the loan officer. Second

way, is called yield spread premiums (ysp). Yield Spreads are the fee's the lender gives the loan officer to give a

higher rate. When dealing with no cost Mortgage lenders you should get second quotes from lenders who

charges fees, and you will see the difference in the rate. Thing to consider when choosing rather or not no fees

are good for you, is to determine the length you plan on staying in your residence. For more free mortgage

secrets on what other lenders don't want you to know please visit www.mtginnovator.com