No Cost Loan
Legal definition for Indian law research
Definition
no cost loan
there are many variations of a no cost loan. Generally, it is a loan that does not charge for items such as title insurance, escrow fees, settlement fees, appraisal, recording fees or notary fees. It may also offer no points. This lessens the need for upfront cash during the buying process however no cost loans have a higher interest rate.
Source: U.S. Department of Housing and Urban Development
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.