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0 Points - 0 Closing Cost Mortgages

Typically, interest rate and the cost of the loan are inversely proportional . . . i.e. the lower the rate, the higher the cost to get that rate. Conversely, the higher the rate, the lower the cost. Because of this, you may choose to take a higher rate and lower your costs at closing, and possibly all the way to the point where you don't have ANY closing costs.

Whether this makes sense or not depends on several factors such as how long you plan to stay in your house, so make sure to have a mortgage loan specialist detail your options under the low or no closing cost loan programs. But, if you will only be in your home for a few years and don't have a lot of cash available, it may make sense for you!