Refinancing Closing Costs

Home Loans

Refinancing Closing Costs
(presented by www.refinance-refinance.net - mortgage lenders)

By Ben Afzal

Cost Types

Refinance closing costs come in two basic forms:

prepayment penalty
loan costs

The first cost, the prepayment penalty, is a cost of getting rid of your current loan through a new refinance. Check with your current lender to see if you have a prepayment penalty, and how much this might be. Although you may have a prepayment penalty some lenders will waive the prepayment penalty if you refinance with them.

(Article continues below)

HOME LOANS ADVERTISEMENT

The loan costs are the costs specific to the loan, broker, and lender you are choosing to work with.

Closing Costs

The refinance closing costs include:

Loan Origination Fee

This fee is a charge for originating or creating the loan by the lender

Loan Discount

This is an upfront charge paid to the lender to get a lower interest rate

===========================================
For additional Mortgage Refinancing information
and resources visit Mortgage Refinancing.
(http://www.refinance-refinance.net)
===========================================

This entry was posted on Wednesday, October 4th, 2006 at 2:13 am and is filed under Refinance. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

Comments are closed.