Are 'No Closing Costs Loans' a Good Idea?

When you set up the deal, you can usually choose among several options. One option might be a loan with no closing costs. While this option saves you from writing a big check today, it may be the wrong choice for the long term.

Loans with no closing costs are not free. You have to pay somehow, and it's generally with a higher interest rate. To learn more about the tradeoffs, see how no closing cost loans work and when they're the right choice.

Further reading:

• Refinance - Definition
• How to Manage Your Closing Costs