What about these ads for no-cost loans?
A “no-points” loan is one for which the lender does not charge points (one point is equal to 1 percent of the loan amount). But there are other fees involved in no-point loans, as with most loans.
Is there such a thing as a no-cost or no-fee loan?
A typical “no-fee” loan is one where the points charged and all fees are included in the loan principal, meaning that the borrower does not pay these expenses at the close of escrow, but instead ends up paying on them over the life of the loan. The loan is called a “no-fee” loan because the borrower is not charged any fees up front.