Many banks like Washington Mutual and Bank of America are now advertising no cost homes loans.

They can do this because they sell you other services while you are in the bank, their own employees do most of the work and most importantly the rates are a bit higher.  Nothing is no cost or otherwise, free.  When you go to a bank for a loan be as scrupulous as with mortgage brokers by checking all the terms when you receive the good faith estimate and before you sign the final papers. 

Take the same care when taking out home-equity line of credit.  As much as some people like to blame the lenders for mistakes its the consumers that need to keep an eye out for their own finances, because the lenders won't, they have their own finances to worry about. 

Part of what we do is help clients with financing; advising you on what may be the better financing for your plans.  If you are starting the home buying process contact us.