Fee Comparison for Conventional Mortgage vs. Cash

[Ernest Grindle]

Hello, I'm about to purchase my first investment rental property. I received a preapproval for a $68.8K loan on an $86K purchase. I'm planning to refinance in 6 months to pull out some of the ARV equity after some rehab. I'm wondering what the savings would be if I pay cash vs. do a conventional mortgage for the initial six months. Can someone tell me which of the below fees I would still need to pay if I buy the house cash? Also, could you tell me which fees if I paid for the initial six month mortgage I would not have to repay again for the refinance?

Fee	Amount
Loan Origination Fee	$895
Appraisal	$465
Credit Report	$35
Flood Certification	$12
Title - Abstract or Title Search	$85
Title - Title Update and Recording	$35
Title - Record/Release/Confirm	$100
Title - Deed Preparation	$150
Title - Courier Fee	$70
Title - Title Binder	$40
Title - Settlement Agent Fee	$450
Title - Lender's Title Policy	$494
Title - CPL Fee	$20
Recording Fee - Deed	$100
City/County Deed/Mortgage Tax/Stamp Fee	$130
State Deed/Mortgage Tax/Stamp Fee	$395
Interest for 15 Days	$145
Hazard Insurance	$720
Hazard Insurance	$180
Property Taxes	$178
Total	$4,699

Another question is for the title fees. I was planning to use my own attorney for the title and closing, so I wasn't sure if this fee structure is based on me using the mortgage provider to do the title or if it would be in addition to what I pay my closing attorney.

One reason for not automatically paying cash is that it will use up the cash I have available to buy a second property.

Thank you for your time.

Ernie