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Closing Costs

Mortgage Library: Ask a Mortgage Related Question: Answers: Closing Costs

Question:

I am refinancing approx. $80,000 and have a few questions about my closing costs.

1. Underwriting fee of $515...does this sound high?
2. Title insurance fee of $924...does this sound even higher??
3. Demand Beneficiary fee of $100...just what is this supposed to be?

Thanks

Lisa
Addison
Texas

Answer:

The first question underwriter fee of $ 515.00 depending on what type of lender I have ranges from $ 400-725.

The title policy is state regulated so it doesn't matter which company you go with we all pay the same fees. The quote that someone gave you is probably a new loan officer is because the chart shows the highest fee of 80K is $ 781.00.

The last question about beneficiary fee is bunch of hogwash, I have never heard of such a fee.

Good luck,

John Chu,
Resource Financial Services
214-680-7282


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