Home Loans
Mortgage Refinancing – What Types of Closing Costs Should You Expect
(presented by www.refinance-refinance.net - mortgage lenders)
If you are in the process of refinancing your home mortgage loan, comparing closing costs is an important part of shopping for the most competitive mortgage offer. As a consumer how do you know which fees are necessary and which fees are garbage when reviewing your closing costs? Here are several tips to help you weed the garbage fees out of your Good Faith Estimate when evaluating closing costs for mortgage refinancing.
You can expect to see a lot of fees when refinancing your mortgage. Closing costs vary based on the lender and your geographic location; however, comparing closing costs when shopping for a mortgage can save you money. The average amount you can expect to pay is between 2-3% of your loan amount. Obviously the less you can pay for closing on the mortgage, the better off you’ll be.
Here are the costs you can expect when refinancing your mortgage, listed by lender and non-lender fees. Not every lender will charge you all of the fees listed here and these fees vary widely from one lender to the next.
Lender Fees:
Non-Lender Fees:
Be careful when comparing closing costs found on your Good Faith Estimate as many lenders low-ball these charges to make their loan offers seem more attractive. Always look at the itemized list and do not rely on the “total closing costs” line from the Good Faith Estimate. You can learn more about refinancing your mortgage without overpaying with a free mortgage tutorial.
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To get your FREE six-part Mortgage Refinancing Tutorial, visit RefiAdvisor.com using the link below.
Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. To get your hands on this free video tutorial: “Mortgage Refinancing - What You Need to Know,” which teaches strategies for finding the best mortgage and saving thousands of dollars in the process, visit Refiadvisor.com. Claim your free mortgage refinancing tutorial today at: http://www.refiadvisor.com |
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For additional Mortgage Refinancing information
and resources visit Mortgage Refinancing.
(http://www.refinance-refinance.net)
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