Question by Trent N: Mortgage People, I have a question about Refinancing?
My loan officer is insisting I have to pay the appraisal fee of $ 450, even though I decided not to go through with the loan. Is this true?
Answer by breaktherake
Yes, unless he told you otherwise up front. Typically, loan officers will have the potential borrowers pay for the appraisal at the time it is done so that it’s not an issue if you decide against the refinance. The appraiser expects to get paid regardless and it’s not fair that the LO would have to pay that.
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