No Closing Cost Mortgage

Beware of the no closing cost mortgage. Mortgage companies are in business to make money. Mortgage professionals are not going to give something away for nothing. Keep an eye on your interest rate and points when opting for a no closing cost mortgage. Borrowers can expect to pay higher interest rates or points and potentially can pay more over time with this type of option. Compare other mortgage options to see which is the best scenario for your particular situation.