There are two ways lenders can do this. One way is by charging you a higher interest rate to cover the cost of making the loan. The other way is by adding the closing costs to your loan amount. Both methods involve no cash to close the loan but result in a higher monthly payment.
The content on this page provides general consumer information. It is not legal advice or regulatory guidance. The CFPB updates this information periodically. This information may include links or references to third-party resources or content. We do not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.
