What are the Costs of Refinancing

When you set up a mortgage, there are various associated costs you have to think about. Among the costs you can expect to pay are origination fees. These vary from lender to lender and depend on the type of loan you get. Other costs include:

• Appraisal fees
• Mortgage discount points
• Prepaid tax
• Insurance payments (combined with prepaid taxes to set up an escrow account)
• Any title insurance changes that may be necessary
• Loan origination fee
• Any upfront fees or payments for mortgage insurance if you have it