Re-financing issues in good faith?

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secretary of my husband sent some docs ready at home with him this evening.She try to achieve a re-fi at home and is concerned that it is cracked at the start-off.I looked docs and I am on some of the costs well.Can someone surprised me, tell us if these costs are typical or extrem.Insgesamt loan borrowing 124,135.00 1% origination fee mortgage broker 1220.00 3724.04 Fee 3% (c is the only one that seems very high to me.) processing fee expenses 895.00 695.00 755.00 subscription Title Insurance Closing / Escrow fees of 600.00 The loan is in Florida, where this helper . Maybe the charges are the norm these days, but it seems “packs” for me.

  1. Reply
    May 1, 2011 at 2:21 am

    Broker fee seems high to me too. If the new loan is 1 per cent or more less than current fee it may be a good loan. Check to be sure it is a fixed rate loan and check for prepayment penalty for early payoff or refinancing. If this person is paying off any other bills and lowering her monthly payment that is a consideration also, I guess I mean every ones circumstances are different and it depends on her situation and what her goals are. Good Luck.

  2. Reply
    Jay S
    May 1, 2011 at 2:47 am

    She is being charged 4% plus whatever is being made on the back from the lender!!
    Unless there are some serious issues or she is buying down her rate(if she were it would show up as a discount not broker fee).
    I can give her a much better deal.

  3. Reply
    May 1, 2011 at 3:02 am

    Sorry, but these fees seem to be normal to me. I agree they may seem high but going into closing on a refi is high. Most people don’t seem to realize the amount of paper work involved. Heck, the fees are high for a first mortgage let alone a refinance. They will most likely roll all those fees into the loan but if they don’t then those costs will have to be paid up front. No such thing as a free lunch.

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