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Who pays for the appraisal on a refinance?

by jessica973 from Redvale, Colorado. Sep 19th 2016 Reply


Nick Bebout (NickBebout)
#101 ranked lender in Colorado - 25 contributions

The appraisal is the responsibility of the borrower. Unless you have a lender that will cover that cost for you, it is always up to the borrower to pay for it. I typically will cover that cost so my client doesn't have to worry about it. Nick Bebout - American Liberty Mortgage - 303-458-3778.

Sep 19th 2016
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Kay Cleland (kay@kcmortgagecolorado.com)
#32 ranked lender in Colorado - 210 contributions

Great day to you! The borrower generally pays for the appraisal whether it be paid for in the rate, the loan amount or in cash from the borrower. It should be on the loan estimate/fee sheet. I am happy to answer any questions that you may have. Kay Cleland, CRMS, CMC . Local Mortgage Broker. 720-670-0124 Thank you.

Sep 19th 2016
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

Depending on the loan product you are using, it's possible an appraisal wouldn't be necessary.. however, if it is, then you pay it.. you can negotiate with the lender to get them to pay for it, but typically, they will only offer you a credit against closing costs in case you back out of the refi.. but like most things in life, everything is negotiable.. 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. 480-287-5714 WilliamAcres.com NMLS# 226347

Sep 20th 2016
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Jason Hutton (jason.hutton@nrlmortgage.com)
#133 ranked lender in Colorado - 8 contributions

Hello Jessica, the Borrower applying for the refinance pays for the appraisal.

Sep 19th 2016
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