If you do not plan to stay in your home for more than five years or anticipate borrowing in the near future, opting for a No Closing Cost Mortgage may be more beneficial. Your interest rate will be a little higher, but you won't have to worry about recouping your closing costs, which could take several years.
The information presented is general in nature and is for information purposes only. It is not intended to provide specific legal, tax or other advice to individuals.