Close

See current mortgage rates on Zillow Mortgage Marketplace

Profile picture for REFI810

What can I do to get more (or better) quotes for my loan request ZR-FCMKTXP

Looking for best rate for no closing cost, no points loan.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 27 2010 - Carson
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (1)

All loans have closing costs associated with them, i.e. escrow, title, etc.  
A no-cost mortgage is a type of loan in which you do not have to pay anything to the bank for the loan. Typically these mortgages come with higher interest rates which include a rebate to the mortgage broker.  These rebates are used to pay the costs associated with obtaining the new mortgage.

With the no-cost mortgage while there are technically no closing costs, you still pay the closing costs over the life of the loan in form of the higher interest rate.

You may be looking for a no-cash mortgage the interest rates are typically lower than a no-cost, but the cost of obtaining the mortgage are added to your loan amount, which means you are going to be paying those costs over the life of the loan.

If you'd like to more information on which option is best for you, feel free to to contact me via Zillow. 

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 27 2010
 
Related Questions
I want to use home as a collateral? Wanted to know if I have any equity on the house
Profile picture for Maggie  Lorincz
Latest answer by Maggie Lorincz
January 28 2013 | 1 answers
What can I do to get more (or better) quotes for my loan request ZR-CHKNNKY
Profile picture for Rich van Bodegom, CMPS
Latest answer by Rich van Bodegom, CMPS
July 01 2010 | 1 answers
can you help me modify my home loan...
Profile picture for Christine Hynes
Latest answer by Christine Hynes
October 05 2009 | 5 answers
Why is 1037 E. Silvan Pl, Carson, CA 90745 has highter zestimate compare to 1033 E. Silvan Place?
Profile picture for Johnny James
Latest answer by Johnny James
August 17 2009 | 1 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 400 W 223rd St APT 212, Carson, CA Home For Sale
    400 W 223rd St APT 212, Carson, CA 90745

     For Sale: $229,900

    • Beds: 2
    • Sqft: 1199
    • Baths: 2.0
    • Lot: 49397
  2. 148 W 235th St, Carson, CA Home For Sale
    148 W 235th St, Carson, CA 90745

     For Sale: $385,000

    • Beds: 3
    • Sqft: 973
    • Baths: 1.0
    • Lot: 5270
  3. 17544 Nutwood Dr, Carson, CA Home For Sale
    17544 Nutwood Dr, Carson, CA 90746

     For Sale: $539,900

    • Beds: 3
    • Sqft: 2436
    • Baths: 3.0
    • Lot: 3223