Morgage Lender

Mortgage loan with no closing costs and no PMI?

I received an offer in the mail from Bank of America, which offers a no cost mortgage closure and without private mortgage insurance (which would with any other lender, because I have 20%). Now this seems a lot, and read the fine print and did not appear in me. Does anyone have experience of going through this type of loan with Bank of America? Is there a loop hole I'm not seeing?

I realize this loan program as I just lost part of my business to Bank of America for the cost of non / noPMI mortgage. I am a loan officer Texas by a corridor and at first thought to be a "bait" offer customers of Bank of America, but in reality is not half bad at all. reduce 10% less and be a customer of Bank of America, its rate is only slightly higher than it could offer a borrower in Texas. Warnings Are you actually can save money by negotiating a lower rate of closing costs of competition with "financing" the costs where appropriate, as an agent who has access to hundreds of lenders, banks and investors. Also – Bank of America is very conservative in qualifying borrowers, unless they conform to your template or mold, then you have lost precious time when you learn you do not qualify (by the way does not mean you do not qualify for a mortgage, but not to one) and could result in losing your home purchase or contract conditions cost more to start again elsewhere. On a personal note, Bank of America is a joint Gross agreed to work with that in the strictly profit margins and give them a financial part of your life (ie your mortgage) is a big commitment – so if you have ever had problems with small items such as checking accounts fees, charges, NSF or denials of loans, think carefully. If you are in Texas and I would consider using a mortgage broker, check out my site if you want? www.CFMortgageCompany.com – can bop around without any hassles. GOOD LUCK! Sue

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