ZERO CLOSING COSTS

Zero closing costs refers to having little or no closing costs as part of a real estate transaction. A zero closing cost mortgage is a type of mortgage where the lender covers the closing costs associated with the loan, rather than the borrower. Certain line items such as down payment are costs that must be paid during closing but are not necessarily considered "closing costs." Closing costs are the fees and expenses associated with obtaining a mortgage, such as title insurance, appraisal fees, and loan origination fees. Zero closing cost mortgages are advantageous if you may move before the full term of the mortgage loan (e.g. 30 years for a conventional 30-year mortgage) or if you want additional flexibility to refinance in the future... What is a Zero Closing Costs mortgage? Learn about closing costs and how to better compare estimates with a Zero Closing Costs lender.