Mortgage Product Scraps Closing Costs ForHomebuyers

Published November 22, 2004, 1:00 a.m. EST

|

Updated August 27, 2020, 2:38 a.m. EDT

1 Min Read

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.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Law and legal issues

Citizens sues SoFi as fights over talent, pipelines persist

The bank is accusing its fintech rival of racketeering for raiding its offices across nine states and stealing an untold amount of confidential information.

By Andrew Martinez
Reporter

2h ago
Maine bank hopes branch makeovers will attract deposits

Mirroring the efforts of a number of larger institutions, Portland-based Northeast Bank plans to open a de novo branch in Bangor and renovate its seven existing branches.

By John Reosti
Reporter

September 11
Digital banking

Nubank launches in the U.S. through a sponsor bank

The Brazilian digital bank is bringing its services to U.S. consumers through a partnership with Lead Bank as it awaits its own final charter approval.

By Melinda Lucy
Tech Reporter

September 11
Wealth management

AI fuels some RIA hiring plans, dampens others: Cerulli

Research from Cerulli Associates suggests that many RIAs have a long way to go with AI adoption while already finding possible ramifications for back-office staff.

By Dan Shaw
Reporter

September 11
Cyber Security

New York tells banks to find their single points of failure

Regulators want firms to spot where several critical functions ride on one provider, a question the department's earlier vendor guidance did not ask.

By Carter Pape
Technology Reporter

September 11
Stablecoin

BVNK and Marqeta dangle a payments lure for stablecoins

The digital asset and card-issuing firms are supplying the guts to enable transactions for cards and digital wallets, betting that Mastercard's ties to both firms will be attractive to banks, consumers and merchants.

By John Adams
Executive Editor, Payments

September 11

Load More