Question by Edison: Are the closing fees to refinance a house the same as the initial closing fees when I first bought the house?
We have been in our house for about a year now. We own about 250K on the mortgage. One year ago when we got in the house the closing fees were about $ 7,500. I am about to refinance now the closing fees will be about the same as when I bought the house. Is this normal? We have an FHA loan and are doing the governments FHA Streamline refinance. Thanks for the help.
Answer by Judy
Many of the fees will be the same – appraisal, for example. Points can be higher or lower. You wouldn’t need an inspection, and won’t have prepays on taxes.
Add your own answer in the comments!