"What are your fees for the loan?"

This is one of the first things that a borrower tends to ask when you are providing them with a rate quote. The true answer: It depends.

Often we hear about "no closing cost" loans advertised on the radio and tv, but the truth is that's normally because you are receiving a higher interest rate. Don't get me wrong, that doesn't make it a bad thing....sometimes the borrower would prefer to have zero dollars out of pocket in exchange for a higher rate.

It really just comes down to simple math. If you plan on being in the home for the long run, it is usually better to roll your closing costs into the loan (on a refinance) and take the lower rate. In the end, the money you saved (in the form of lower monthly payments) will offset your closing costs over time, and you will see a good return-on-investment. Visit Brandon Blue at www.BlueHomeLoans.com to learn more.