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Late 80s Hokie

Joined: 10/29/2001 Posts: 23139
Likes: 7594

What's this?

For those of you who have refinanced with your current lender, a question


on closing costs.

My wife and I have re-fi'd several times, but each time has been a change in lender.

When you refinance with your current lender, what closing costs are involved? I know it varies by customer and situation, BUT if you refi with your current lender, do they still need to do an appraisal? Title Insurance? Title Search? And any other things that cost money and were down for when you took out your existing loan with them?

I'm thinking that closing costs should be a lot less if using your current mortgage lender, but also maybe they won't give you as good of a rate since that's just cutting their own profit down.

Guidance?

Posted: 03/05/2020 at 6:44PM


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Current Thread:
 
  For those of you who have refinanced with your current lender, a question -- Late 80s Hokie 03/05/2020 6:44PM
  Appraisal requirement on a refi is generally ruled by Fannie/Freddie not -- HokieJamie 03/05/2020 8:23PM
  Yep, my appraisal was waived due to Fannie accepting the value presented ** -- BRVT 03/06/2020 08:16AM
  Exactly -- MrBayAreaHokie 03/06/2020 12:34AM
  ^^^listen to this man. He knows what he’s talking about. ** -- CPRVHokie 03/05/2020 8:25PM
  Title insurance is based on loan to value. Mortgage survey should be requir -- 48zip 03/05/2020 8:10PM
  If you straight refinance with same lender you don’t pay recording fees and -- CPRVHokie 03/05/2020 7:41PM
  Cap Center has great rates, no closing costs, and easy process ** -- TabbHokie 03/05/2020 7:11PM
  Yeah no closing costs ....baloney. They're in there somewhere ** -- HokieJamie 03/05/2020 8:21PM
  They have closing costs. Mortgages are a commodity and they don’t have a -- CPRVHokie 03/05/2020 7:43PM
  No, you literally pay them zero money. -- MP4VT2004 03/05/2020 8:26PM
  OK. Whatever makes you feel better. ** -- CPRVHokie 03/05/2020 8:28PM
  I refi’d 7-8 years ago, and got $ back after closing -- TabbHokie 03/06/2020 4:23PM
  Has nothing to do with how I feel. I got the best rate I could find... -- MP4VT2004 03/05/2020 8:29PM
  Exactly what I did. Mortgage will be sold, but no issue there. Loan officer -- TabbHokie 03/06/2020 4:26PM
  Yeah 3.5 is still better than the 4.25 I was paying -- HokieForever 03/05/2020 8:40PM
  MORTGAGE COMPANIES DONT KEEP LOANS ON THEIR BOOKS. -- CPRVHokie 03/05/2020 8:58PM
  Yep ** -- pfishe 03/06/2020 07:10AM
  Refinancing no closing costs -- HokieForever 03/05/2020 8:25PM
  When mortgage companies close a loan, their balance sheet goes down. -- CPRVHokie 03/05/2020 8:27PM
  Oh they definitely selling it they always do -- HokieForever 03/05/2020 8:38PM
  The lack of knowledge about the mortgage market is stunning. -- CPRVHokie 03/05/2020 8:56PM
  Yes understood, they bought -- HokieForever 03/05/2020 9:25PM
  Well, if being right and pointing out that what you posted is irrelevant is -- CPRVHokie 03/05/2020 9:40PM
  I posted that I have no closing costs -- HokieForever 03/05/2020 9:59PM
  Many federal loan guidelines as well as state, require -- PhotoHokieNC 03/05/2020 6:52PM

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