HUD's FAQs - What is a "No-Cost" Loan for Purposes in the New RESPA Rule?

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Q: What is a "no-cost" loan for purposes in the new RESPA Rule?

A: Information about "no-cost" loans may be found in Appendix A, Instructions for Completing HUD-1 and HUD-1A Settlement Statements and 24 CFR part 3500, Appendix C – GFE Instructions.

This can be found in General – FAQ #8 of HUD’s FAQs.  HUD’s FAQs can be found at http://www.hud.gov/offices/hsg/rmra/res/respa_hm.cfm.

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