What motive do they have for giving me a no cost loan?
I recently refinanced my home (8 months ago at 8 3/4%), and just had the loan broker call me
and tell me he can do a no cost refinance to 8%. Has anyone heard of this, and if
so, what is the catch. What motive do they have for giving me a no cost loan?
-Today, lenders are willing to offer loans with negative points (i.e.
they give you cash) in exchange for higher interest rates. For
example, today, you can find a 15 years conventional fixed load for
7.25% with -1.5 point (normally, all combinations