Home Buying in Boston>Question Details

Trulia Boston, Home Buyer in Boston, MA

Are closing costs different when refinancing compared to buying?

Asked by Trulia Boston, Boston, MA Mon May 6, 2013

Help the community by answering this question:

Answers

4
BEST ANSWER
Yes, the costs are lower when refinancing. Depending on when you purchased, you will most likely receive lender's title insurance with a lower reissued rate. If you purchased owner's title insurance that policy is transferable. The recording fees will also be less. If you own a sinlge family home you will not need a plot plan when refinancing.
You should also ask about no closing cost options when refinancing.
0 votes Thank Flag Link Mon May 6, 2013
Yes they are very different and tend to be a bit lower when you refinance.

Best Of Luck.
0 votes Thank Flag Link Tue May 7, 2013
Yes. There is a reissue rate on lenders title insurance which is less than when purchasing . If the same attorney closes the costs are typically less and the receding fees are less
0 votes Thank Flag Link Mon May 6, 2013
Yes, there are a few small non-financing related closing costs incurred during purchases that don't come up with refinancing.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Mon May 6, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer