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Mortgage Professor about zero closing costs: | |||||||||||||||||||||||
The Dual Loan Scam
December 4, 2000, Updated September 31, 2002 "We just built a house and arranged a 30-year fixed rate mortgage (FRM) for $350,000 at 7.875% (no points) with a bank. A mortgage broker has proposed that I scrap this deal and go with him. He will provide the same loan and ... more... Buying Now Versus Buying Later August 2, 2000 "Please settle an argument. I believe that we should buy our house now, even though we have no money for a down payment, because our credit is good and we can get a 100% loan. House prices have been rising in our area by about 4% a year. My ... more... |
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zero closing costs related definitions |
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Settlement Costs, Closing Costs
Settlement Costs, Closing Costs Expenses incurred by the buyer and seller in a real estate or mortgage transaction. There are two types of costs: recurring and non recurring. Non-recurring costs are one time ... more... Closing Costs Closing Costs Expenses incurred by the buyer and seller in a real estate or mortgage transaction. There are two types of costs: recurring and non recurring. Non-recurring costs are one time transactional costs ... more... |
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