Usually the no cost loans are the one causing you pay double. The total cost in the long run is higher than the borrowers would have imagined before going for a no cost loan. This is because of the high interest rate attached with the loan when paying back. Interest rate in no cost loan rises up to 2%. Though it might seem less to you right now, but actually it is big enough.
The Interest Rate:
One of the best ways for the borrower to find out which no cost loan is the best for him is to calculate the time period after when the house will be their own home. This can be calculated with the interest rate.

March 23rd, 2012
Amber Cook 
Tags: Loans, No Cost