Closing Cash Saver Loans
Closing Cash Saver loans allow you to avoid non-recurring closing costs by selecting a slightly higher interest rate. When you choose a Closing Cash Saver loan it generates a rebate that will pay your non-recurring closing costs, allowing you to close with less money up front. As with all loans of this type (sometimes incorrectly referred to as "no-cost" loans) the prepayment of recurring costs will still be required at closing, regardless of the broker you use.
Non-recurring costs (rebated)- Broker fees
- Lender fees
- Title fees
- Government fees
- Credit and appraisal fees
This article provided by E-Loan
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