Are these charges legit?
I plan to convert my current HELOC to a mortgage loan for $140k. There is a transfer tax of $1780 under closing costs. I live in Maryland and was wondering if this charge is legit? by Qadir655 from Baltimore, Maryland. May 2nd 2022
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,852 contributions
I'm not familiar with Maryland, so you'll need to talk to a lender in your area, but it is a common rip off tax in many states. Here in Minnesota, we have the Minnesota Mortgage Registration Deed Tax that you pay each and every time you do a mortgage loan on your property. I lend in MN WI ND SD IA - Find me at JoeMetzler.com - Cambria Mortgage, NMLS 274132
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