2006-10-08 04:49:28 · 5 answers · asked by linh n 1 in Business & Finance ➔ Personal Finance
if i refinace my house for $110,000 and how much closing cost will be???can lender overchage me on closing cost???please let me know?????
2006-10-08 04:58:35 · update #1
I can give you a very close estimate if you email me your state and county.
help@choicefinance.net
2006-10-08 06:57:34 · answer #1 · answered by Anonymous · 0⤊ 0⤋
That depends on the loan. Anything from zero to about $7,500.00
I did a refi a couple of years ago with a major national lender that advertises a $399.00 fixed cost refi. I did pay about 1/2% over market (about $40.00 per month) but the total closing costs including pre-paids were less than one month's mortgage payment at the old rate. Based on the closing costs for the regular rate loan, the payback period was 140 months to break even on the $5,600 in closing costs. My payments dropped over $350.00 a month so it was a no-brainer to refi.
The best answer is to shop around. The mortgage business is very competitive, especially if you have good credit.
2006-10-08 05:47:52 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
this will be different with different lenders- get some estimates with couple and compare.
2006-10-09 13:04:59 · answer #3 · answered by bianca 4 · 0⤊ 0⤋
It's definitely possible, that's for sure
2016-08-08 16:43:37 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I too have the same question
2016-08-23 08:24:24 · answer #5 · answered by Anonymous · 0⤊ 0⤋