A “No Points” loan is defined in different ways. The best description is a loan that has no lender fees (or points). (A “point” is equal to 1% of the loan amount.) But, there is “no free lunch.” When you hear these offered, the lender will give you a higher interest rate so that you pay back these fees (and points) over time with the higher payments.
Please note: With a No Point loan you will still have other costs associated with the loan (title, escrow, appraisal, etc.).
Yes, we can work out options for you to have some or all of your lender fees paid. We can even get the lender to pay some of the other costs associated with your loan.
-David