Bank of America came out with a no-cost mortgage loan program, earlier this year. Apparently, Washington Mutual has one of these, as well.The Bank of America plan offers a loan with no closing costs - no application fee, no appraisal fee, no credit report fee, plus you even get a $200 credit at closing (presumably to offset other fees charged by other parties).The Bank of America plan is only available to customers with an existing relationship with the bank.Sounds like a good deal.How can they do it? Through volume deals with settlement providers [...]
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[Source: The Money Blogs]
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