In this changing market place, many of us have seen lenders advertise the "no cost" loans. This sounds really good but what is a no cost loan? And what are the benefits of this type of loan, if there is any?

First let me explain that the term of no cost loan is used in the refinancing market therefore usually seen as the "NO COST REFINANCE LOAN" . It can be used in a purchase but would take a sharp loan officer to put it together. Anyway back to the refinance it is a way that you can roll all the cost of the loan into the loan without increasing your loan balance.