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Guide to the cost of refinancing a mortgage. *Awesome*
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Refinance Cost of a Mortgage
The refinance cost of a mortgage defends on several factors. Do the calculations on aRefinance Calculator to see if the cost of refinancing is worth it. Many fees vary fromstate to state so the fees listed are a very rough estimate. Call around for a refinancelender to get an idea just how much refinancing cost.
1) Refinance Application Fee - Yes, even the application is part of the refinancing cost.Depending on things, it can cost you several hundred dollars. Call around to get an ideahow much it will cost.
2) Lender Closing Fee - One of the most expensive fees in refinance cost. Can go up to$1000.
3) Title Insurance - Varies from state to state.
4) Document Fees - People have to get documents and those cost money too. The priceis around $300.
5) Settlement fees - Once everything is said and done then you have to pay thesettlement fees. They usually several hundred dollars.
6) Title Examination - Someone has to take a look at the title and this will costdepending on the state.
7) Escrow - Another fee. Everybody needs their cut of the money. Verify that all sumsare accounted for and in good standing both before and after obtaining a mortgagerefinance.
You can calculate the fees yourself to get a rough idea how much it should cost.However, this can be a time consuming and often frustrating process. Do yourself afavor and shop around for a refinance lender that you trust. This can save you hundredsor even thousands of dollars.