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does it cost anything to refi with another lender??

like any "transfer" fees i mean. I'd ask mine but not sure it will go over well by kayharlow8923798904 from Danville, California. Mar 19th 2014 Reply


Kat Whitman (kat@whitmanmet.com)
#980 ranked lender in California - 8 contributions

Hi Kay, All loans have closing costs; however they are paid to the new lender and the title and escrow company handling the transaction. You should not pay any fees to the old Lender but, you would want to be sure you do not have a pre-payment penalty in your current loan. Hope this helps.Kat Whitman

Mar 19th 2014
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#76 ranked lender in Florida - 2,240 contributions

there are fees whenever you buy or refinance a home no matter who you choose as your lender. there are some lenders that will offer a no closing cost loan , but typically at a higher rate then if you rolled the new costs into your new loan. Speak with a mortgage pro about the options you have.

Mar 19th 2014
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Kevin Lane (Kevin Lane)
#114 ranked lender in California - 7 contributions

Hi Kay, this depends on a few items: 1. Does your present loan have a prepayment penalty ?2. If you loan is less than 6 months old, there could be a small service or admin fee.There are no tranfer fees normally with a conventional loan. There are costs escrow and other costs associated with a new loan that can be paid by the lender or not paid by the lender. If the cost are paid by you, you would expect a lower interest rate, say 0.25 % for example than if they were paid by the lender.It always pays to shop around for the lowest interest rate and closing costs as the rate is where the lender gets their compensation. The higher the rate the greater the compensation they recieve. We 'd be please to quote you rate, term and costs ( if any) in detail, no obligation, no hastle email: kevin@realty-answers.com or call 760 208 2609 warm regards, Kevin

Mar 19th 2014
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

Yes, you will have closing costs, no matter where you refi.

Mar 19th 2014
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,588 contributions

There will always be closing costs for a refinance, whether you use your existing lender or another lender.. and in reality, you'll probably get a better deal by using someone other than your existing lender.. But your current lender cannot charge you because your switching lenders.. the new lender will just call them and get a payoff.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. WilliamAcres.com

Mar 20th 2014
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David Drakeford (david_drakeford)
#0 ranked lender in California - 63 contributions

Every lender has costs on a loan transaction. We offer many loan products and options from points to no points to 0 costs etc. Depending on the rate and fee structure that you chose will determine exactly what your fees are. But, yes, you can get a 0 cost loan but that usually will come at a higher rate of interest. Feel free to give us a call as we'd love to further discuss or assist. 800-446-9043 ext 801

Mar 19th 2014
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Blake Kleckner (BlakeK)
#389 ranked lender in California - 257 contributions

The short answer is no except for the normal title, escrow, underwriting, processing appraisal, notary, fees, and a few others. These costs can be baked into the refi for a slightly higher interest rate than if they aren't. There are no transfer fees. You can refi whenever you want without paying a penalty, unless your loan has a prepayment penalty, but they went the way of the dinosaurs 5 years ago. Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to discuss refi possibilities with you. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 46 quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

Mar 19th 2014
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