My girlfriend and I would like to refinance our home that we bought back in January.The problem is between the closing costs and other fees it will cost $6,500. Do all the programs cost the same? The rate is at 4% with closing costs over 2800 dollars. Any suggestions out there. I thank you for any responses. by michae_556_438 from Atlanta, Georgia. Nov 11th 2011
It's fairly normal in this market to make your offer with the sellers paying your closing costs.
Depending on the sales price, you can estimate maybe 3-4% in closing costs, but sometimes it can be a little higher. Based on what you have shared, I think you are in the ball park for this area. Higher interest rates can help you cover closing costs too. Please feel free to call me to discuss in more detail. 678.493.3366Christina Murphy Oglethorpe Mortgage
Closing costs are a normal part of refinancing... Some of the costs are a percentage of the loan amount, and some costs are fixed... best bet is to contact a local mortgage broker, not a bank and have him do a loan comparison.. Pay attention to your "Net tangible benefit" or pay back period... WilliamAcres.com
Closing cost are not the same.some of them are fixed regardless of the loan amount such us attorneys fees,underwriting fees, etc.others are variable such us origiantion fee, Title insurance and transfer taxes.With a rate of 4% your closing should range bewteen 0.5% to 1% of your loan amount.For more information you can reach at itaboada@phoenixglobalmortgage.comThanks
You can structure a loan without closing costs by getting a lender credit.Please feel fee to call me at 404-964-6890 and I will explain this. I am a local mortgage broker. My name is Barry Elam. You can reach me at the office during the week at 770-995-8078.
We can refinance your home with $0 closing costs. Please call me for details.Ron Byrne 770-971-7880
Ask our community a question.