Can I really get a loan with no costs?

NO. All loans have costs. The question is who is how are they being paid and who is paying them. I have done VA loans where the buyer comes to the table with Zero down and no closing costs, but the closing costs were paid by the seller. I have also done loans where the closing costs are paid by the lender because the buyer agrees to accept a higher rate than they would otherwise qualify for. The trade-off is that the loan rate pays a credit toward the closing costs for the higher rate. Still in other cases, the closing costs are rolled into the refinanced balance. The bottom line is that no one works for free. The appraiser, the title company, your insurance agent and of course your lender all have to be paid. The only real question is how. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

No one works for free.. Loan costs are true costs to initiate a mortgage, and those costs have to be paid for.. Appraisers, title companies, processors, and even the lender have costs associated with initiating a mortgage, and yes.. The lender does make a profit.. so there are costs, it's really just a matter of how the costs will get paid, not who's paying, because the borrower always pays for the costs.. You pay by selecting a higher interest rate that offers a credit which can be applied to your costs, or you finance or pay for the costs up front, but in any case, you the borrower is paying.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

The short answer is yes, with some explanation. I do loans for my clients all the time without them having to pay anything out-of-pocket. Sometimes, they even get minimal amounts of cash out without their loans being cash out transactions. Of course, as everyone knows, we all work for the purpose of earning a living. In actuality, under certain circumstances the costs of the loan can be included in it so that no cash has to be paid. This is accomplished by adjusting the interest rate so that the credit given back to the homeowner is large enough to pay the costs, while at the same time keeping the interest rate extremely competitite. I am currently working with a client who has very low cash reserves. She cannot afford to pay the costs, so hers are included in her loan. Other homeowners just don't want to pay anything at the close, which is their choice if the numbers work out okay, so I structure their loans to accomplish this objective. The only way to determine if you can get a loan that doesn't require you to pay any cash, if you're short on it or just desire not to do so, is to analyze your particular situation and advise you of the loan alternatives available to you. Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 39 quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody. Oh, by the way, when I say; 16/7 that's exactly what I mean. If you would like to speak this evening, I'm available.

NO... absolutely not! All loans have closing costs! It is all a matter of how you pay them. When you hear a "no cost" loan, then lender is doing one of two things. Either they are increasing your interest rate to cover the closing costs - which means you pay the costs over the life of them loan by paying more in interest. Or, they are simply rolling the costs into the new loan amount - effectively making it no out-of-pocket costs. So do you have "no costs"? Absolutely not. Do you have "no out-of-pocket costs" = yes.

there is no such thing! The only question will be who will be paying the closing costs, you or your lender. If the lender will be paying them this will usually mean a higher interest rate. it is important to speak with a pro to decide which option works best and is most cost efficient for you.Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

Yes I agree, the loan always will cost someone money. The question becomes who is paying for it. On a purchase you can have a seller pay the closing costs, but the question is.. "Are they really paying them"? Would the seller have sold you the home cheaper if they didn't have to pay your closing costs? The answer is probably "yes". When the lender pays your closing costs they are charging you a higher interest rate which gives more premium on the table to cover the costs. So in essence, you are just not paying these costs at closing but over the 30 year note. Good luck to you!

NO!! but you may have the costs rolled into your loan or receive a lender credit that covers any costs. in either case you are paying the cost over the life of the loan.

You pay the costs either as fees at closing, or the costs are included as a higher interest rate.

Yes, you can get a loan with no costs out of your pocket. I'll regularly pay all the costs for my clients.

I am going to respectfully disagree with everyone on this thread that has said no. You certainly can obtain a low without incurring closing costs.However, to do so you will have to be willing to accept a (slightly) higher interest rate than you could obtain if you were to incur the cost of the refinance. In the case of accepting the higher rate, the lender can pay the costs (yes all of the costs in most instances) with the extra premium earned by providing the higher rate.This will usually make sense if you plan on staying in the home for a shorter period of time (2 to 3 years max). I would be more than happy to assist you and show you the difference between the "no cost" option and the lowest rate option.Best of Luck and have a great day!