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No Points Tips Refinancing Tips No Cost

Mortgage Home Loans - Have you been offered "No Points Closing" or "No Closing Costs"

Lesson #1 - Nothing is free.

"Mortgage Lenders" promote their interest rates as low as possible and then apply points. Once you see the paperwork, they apply the backend fees. Aha! Gotcha Ya!

"Online Mortgage Lenders typically either address the number of points next to the interest rate. One point is equal to 1% of the total loan amount.

"Annual Percentage Rate APR" - Monitor the APR of the loan, the APR is comprised of interest rate, points orfees and your closing costs. Compare mortgage lenders by monitoring this percentage you will find that a lot of the low rate lenders are not the best deal in town

Hipotecas Prestamos October 3, 2006 07:23 AM