Financing in 19123>Question Details

Kellie, Other/Just Looking in 21044

is title insurance necessary on a refinance? Also, what is the 'normal' settlement charge range on a refinance mortgage? Thanks

Asked by Kellie, 21044 Sun Aug 29, 2010

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Yes, title insurance is mandatory on a refi, and recommended on a purchase.
Settlement charges would depend on your loan amount and you state.
if you're having doubts about the fees, talk to your broker and ask him/her to explain each charge.
1 vote Thank Flag Link Sun Aug 29, 2010
Hello Kellie,

you can check out the amount of title insurance needed at this website.
http://www.alphaadv.net/patitle/ratecalc.html.
On top of that there may be other charges such as charges for endorsements to the title, recording fees (which are a little higher in Philadelphia) notary fees and possibly aq settlement fee. You can save a few dollars by shopping around.

Regards,
Alan Openshaw NMLS# 143960
Cornerstone Lending Inc.
267 992 7276
0 votes Thank Flag Link Mon Aug 30, 2010
Yes, title insurance is need weh you refinance. The " normal " charges are based on the the amount your are borrowing. Please call me at 484-530-3588 and I would be than happy to go into more detail with you about the charges to refiance your property.

Thanks,
0 votes Thank Flag Link Sun Aug 29, 2010
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