What Fees Should I Compare Between a HELOC and a Cash-Out Refinance?

Reviewed by Ramez Malki, NMLS 315466 · Last verified October 2026

Two loans with the same rate can cost very different amounts at closing. Compare the full list of fees, plus the monthly payment, before you decide.

Short answerLook at underwriting or origination fees, the appraisal, title and escrow, recording, any annual fee on a HELOC and any broker compensation. Some lines let you roll costs into the line instead of paying at closing. Compare total cost at closing and the monthly payment, not only the rate.

A checklist to compare

Cost	HELOC	Cash-out refinance
Underwriting or origination	May apply; sometimes reduced or waived	Usually applies
Appraisal	Full appraisal on a rental is common	Full appraisal on a rental is common
Title and escrow	Varies; may be lighter than a refinance	Usually a larger package
Recording and government fees	Apply	Apply
Annual or maintenance fee	May apply	Not typical
Early closure or prepayment terms	Some lines charge if closed early	Check the note for prepayment terms
Broker compensation	Disclosed on your Loan Estimate	Disclosed on your Loan Estimate

Every cell above is a thing to ask, not a promise. The terms differ by lender and program, and our HELOC closing costs page lists the categories for a standard line.

Look at timing and total cost

Cash needed at closing today.
The monthly payment during the draw period and after it.
What it costs to close the line early, if you may repay quickly.
Whether costs can be rolled into the line or loan.

Ask for it in writing

A Loan Estimate or the lender’s fee sheet puts each charge on paper so you can compare the same loan amount and the same structure side by side. We compare options from the lenders we work with and show you the totals.

Frequently asked questions

Is a no-closing-cost option really free?

Usually the cost moves somewhere else, such as a higher rate or a balance that is rolled into the loan. Compare the full picture.

Who pays for the appraisal?

The borrower typically pays, though some programs include it. Ask before you order one.

Do the fees change if I draw less?

Some fees are set by the line size, not the amount drawn. Ask which ones.

Related guides

Rates and terms depend on your credit, property and loan amount; approval requires qualification. Contact Ramez Malki, NMLS #315466, at Lendia, Inc. (NMLS #295073 | Licensed by the California DRE #01877189). Lendia lends only on California properties.

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