Originally posted by Ripsnort
Yeah, I guess I was speaking from a 0 points standpoint. If you pay the points to lower the interest rate, you're going to pay points at closing.
I don’t think it has anything to do with paying points on the loan. You may not have to put anything down but the prepaid interest, escrow, appraisal, title search, and all other “fees” you have to come up with.
That is unless it’s a VA loan. There are still some closing costs involved but not as many as a conventional or an FHA.
Even an FHA loan requires closing costs to be paid unless the house is being purchased using a HUD program.
Refinancing though, they’ll roll it all in as long as the equity is there.