Home Buying in Torrance>Question Details

Chrisbush2, Home Buyer in Torrance, CA

Can a mortgage broker pay the appraisal fee for a refi?

Asked by Chrisbush2, Torrance, CA Thu Nov 1, 2012

Help the community by answering this question:


What type of refinance are you interested in? Are you interested to see if you qualify for Short Refinance with principal reduction?


Sheryl Arndt, Real Estate Broker – Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
20+ Years Experience
DRE# 01140252
NMLS# 297251
0 votes Thank Flag Link Thu Dec 13, 2012
And there is no waiting time for disclosures.
0 votes Thank Flag Link Thu Nov 8, 2012
It is hard for a lender to give you the best rate, the lowest fess, cover expenses like appraisal, and give excellent service. Just make sure you are looking at the complete package.
0 votes Thank Flag Link Thu Nov 1, 2012
A mortgage broker could cover the cost of an appraisal and as others have stated, it is very competitive regarding refi and new purchases. As far as having an investment in the purchase this really is in you down payment and not necessarily in the appraisal fees or inspection of the home.

If the broker will not cover the fee and you have asked them to Cover it, look around for another source to refinance you home. Letting your current broker know this might be a deal breaker they may just change their mind about covering the cost. You never know until you ask.
Web Reference: http://www.cleehomes.com
0 votes Thank Flag Link Thu Nov 1, 2012
I have seen the Appraisal and Credit Report fees paid by the Lender;
This is a competitive business.

However, most Lenders would be to see their clients "invested" and committed in the deal;
If the Client has nothing invested, there is nothing keeping them from walking away.
0 votes Thank Flag Link Thu Nov 1, 2012
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