What about ads for no-cost loans?

Contact Information

Marc Oster

RE/MAX Alliance

5586 W.19th St

PO Box: 2000

Greeley, Colorado, 80634

Office: 970-330-5000

Cell: 9703021233

Fax: 970-284-6056

Lic. #: ER40017322

What about ads for no-cost loans?

What about these ads for no-cost loans?

In many states, real estate regulatory agencies are cracking down on such advertising. The very term, "no-cost" loan, is misleading because borrowers are actually paying a higher interest rate in exchange for not having to pay fees or closing costs up front when the loan is secured.
A "no-points" loan is one for which the lender does not charge points (one point is equal to 1 percent of the loan amount). But there are other fees involved in no-point loans, as with most loans.

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Last Updated ( Tuesday, 29 July 2008 )

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