Mortgage Product Scraps Closing Costs ForHomebuyers

SHARON, Mass. - (11/22/04) -- Sharon CU said it has introduced anew mortgage that charges no points and no closing costs forhomebuyers who are unable to afford upfront costs on a home loan.The 'No Points--No Closing Costs Fixed Mortgage' is offered up to a30-year fixed-rate term and is available for both new purchases andrefinancings. The member will be required to pay appraisal andcredit report fees at application, but those fees will be creditedback to the member when the loan closes.