Mortgage Refinancing Penalties
Top Rated Mortgage Broker | Expert Home Mortgage Advice
How to avoid mortgage refinancing penalties
Depending on the lender, you might get more surprises along the way. You can count in amortization, relocation and other sorts of additional fees which they may be hiding.
Right from the beginning when you see the appraising team, you must be asking questions about hidden fees. Here are points where you might find them.
- Appraising Team – Latest estimates of place home value appraisals cost the borrower up to $500. If the house has been bought recently, show the appraisal file for them to use it instead.
- Property engineer or inspector – For pest inspection. It may you cost up to $300.
Even with all these mortgage refinancing fees and costs, don’t panic. We are on your side, requiring your lender to present to you all the financial details of the refinance before finalizing the loan. This way no more surprises will be coming.
More about mortgage refinancing