Are No Closing Costs Loans a Good Idea?
Are ‘No Closing Costs Loans’ a Good Idea? Friday January 23, 2009With interest rates at record lows, many of you are refinancing. When you set up the deal, you can usually choose among several options. One option might be a loan with no closing costs. While this option saves you from writing a big check today, it may be the wrong choice for the long term. Loans with no closing costs are not free. You have to pay somehow, and it’s generally with a higher interest rate. To learn more about the tradeoffs, see how no closing cost loans work and when they’re the right choice. Further reading: • Refinance – Definition • How to Manage Your Closing Costs Comments (0)See All Posts
