Updated about 7 years ago on . Most recent reply
Brrrr refinance fees seem high
this is my first brrrr and I have owned this florida property for 6 months. I own it in cash.
Im not sure what to expect with loan fees but here is a quote I got:
75%ltv
Est. 150k
Apr. 5.84%
Origination: 645
Appraisal 685
Tax service fee 79
Recording fees 265
Transfer tax 639
Title insurance 700
Closing/escrow fees 405
Total: 3,875
This seems high to me. How does this compare to your expectations?
Most Popular Reply
@John Voychick - this seems inline with my expectations for what it's worth. My one question is do you also need to pay for an attorney fee in San Diego?
You have the opportunity to shop and find something slightly better, but I just had a 125k refi and my fees were about $3,500 so same ballpark. Personally, I would make the decision on the long-term relationship, not a few hundred bucks in fees. So if you're comfortable with the lender and there's an upside (or potential for future negotiation) go for it.
Lastly, you should be able to shop for third-party items like title and attorney if you desire. Also, here's a third-party closing cost calculator for your record: https://smartasset.com/mortgage/closing-costs#gfe-table