It's the year 2010, and the world has discovered the key to economic security. So much depends on your specific situation that it's impossible to give a simple answer. With traditional refinancing, you should expect to pay an average of 3 percent to 6 percent of the outstanding principal in refinanc ing costs. The costs of traditional refinancing Title search and title insurance. The title search confirms your legal ownership of the house, and ensures there are no outstanding claims against the property.
Title insurance guards the lender against a mistake in thissearch, and is almost always required.
A re-issue could save you up to 70 percent compared to a new policy. Your current lender can tell you who is carrying your title insurance policy. This covers the lender's initial costs to process your application and obtain your credit report. Appraisal fee . This fee covers the costs of an independent appraisal of the value of your home for your lender's use in evaluating your application.