How to Wisely Understand and Pay for the Costs and Fees of Your Mortgage
You may not write a check out to the lender at closing, but that doesn't mean there aren't costs and fees associated with your mortgage. These costs and fees add up to several thousand dollars, depending on the amount of the loan.
The bank may pay them and charge you in the interest rate. You can fold these costs into the principle of the mortgage if you like. Or you can write a check. One way or the other, someone pays the fees.
Los Angeles Mortgage Broker and Lender, Bill Rayman, has created the following video that give the details of the Truth about No Cost Loans.