Yanswersmonitorsarenazis replied: "I'd consider it. But only if you're quite certain you won't be in that home or in that loan for more than a few years. BOA can't get the state to waive their taxes, or the title insurance, or anything other 3rd party cost. They still have to pay those items. So, if they don't charge it to you directly, they only way to pay for it is to charge a higher interest rate. You could save thousands, but every month that goes by, your "savings" is reduced by the higher interest you pay. There's nothing new here. I've been doing "no-cost" refinances for years. All that means is that I charge a higher rate, and pay your costs for you from the rate spread premium I get for delivering a loan at a higher rate. This is great if you won't be in the home for longer than about 5 years, in most cases. In that case, you'll have just about broken even on the costs, really. The only way to compare this is to get quotes with you paying costs (and presumably getting a lower rate), vs. BOA's all-inclusive offer. Compare the two monthly payments. Let's say you finance $200,000 at 6.5% paying costs, 7.0% from BOA with no costs. At 6.5%, your payment would be $1264. At 7.0%, it's $1330. A total difference of $66/mo. in higher interest. Closing costs on $200K would likely be about $4500 in most areas. $4500/66 = 68 months to break even. That's 5 years, 8 months of time before the higher rate becomes the more expensive choice. Statistically, over 90% of all mortgages are paid off within 5-7 years, either through a refinance or sale. But, if you're one of the rare few that keep your loan all 30 years, you'll have 292 extra payments of that $66/mo, ultimately costing you an additional $19,272 in interest over 30 years. So, could they save you thousands? Maybe. But only if you pay off their loan in the first year or two. If not, they might really cost you tens of thousands. PS the fact that they don't post their rates online, to me implies that they know they're overcharging."