Refinancing fees and title fees

I am looking into refinancing and the company I company I chose is charging application, processing and underwriting fees. Is this standard for mortgage broker companies? Would I have been charged this if I did the refinancing in my own? (Im A little annoyed because I specifically asked them if they charged any fees and they told me no but I’m. It sure if this is standard where ever you go)

I try to lookup this information and it’s impossible to figure out. Not sure if I am not searching the correct way.

Also any recommendations on a title company??

I don’t remember when buying the house but in total my closing fees not counting what’s gonna be put in my escrow account is about $10500 almost $4000 of that I am being told is what my town charged for recording transfer tax fees. I feel like this is a lot of money and don’t want to be ripped off/taken advantage of

Refinancing fees and title fees

When I refinanced with better.com, there were no lender based underwriting, application or processing fees. They didn't even charge me for an appraisal since they did an online appraisal. So not everybody charges these fees. I would look for a new company.

Re: Refinancing fees and title fees

Refinancing fees and title fees

Better.com is awesome. Gave me the best deal by far with the lowest fees. Used them three times so far. Two refi and one purchase.

Each hard credit check takes about 2 points off your score. It's not a lot.

Message edited 7/26/2021 2:54:49 PM.

Re: Refinancing fees and title fees

When we refinanced with our same lender they only charged us $430.

Re: Refinancing fees and title fees

Thank you both forgot to mention we are also doing a cash out with the refinance will this change any of the fee costs?

Refinancing fees and title fees

When I did a refi with the same lender that was already holding my mortgage, there were no fees like that. There was an appraisal fee I had to pay upfront, but it was taken off (or "refunded back") at the time of closing.

Message edited 7/26/2021 3:18:18 PM.

Refinancing fees and title fees

You should not have to pay those fees. We are refinancing now and most of our "closing cost fees" are escrow for taxes and insurance but we'll get that back. You can roll all those fees into your new mortgage though so you have nothing out of pocket.

Re: Refinancing fees and title fees

For those who refinanced you didn’t have to do a title search or whatever it is. They are saying that will cost almost $4000.

Also you didn’t have to pay for Recording Fees and Other Taxes Transfer Taxes? This is also almost $4000

If not is it because you stuck with the same lender?

Re: Refinancing fees and title fees

Re: Refinancing fees and title fees

Refinancing fees and title fees

you absolutely have bank fees. the difference is just going to be in the way the bank presents them and if they roll them into the loan (meaning you don't come out of pocket for them, they just increase the loan amount to cover them).
You will also have title fees and most of those are standard, so there really isn't a point in shopping around for them. These can also be rolled into the loan so you are not paying them out of pocket.
I work for a mortgage bank - feel free to ask any questions you might have.

Re: Refinancing fees and title fees