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.
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.

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.

0 votes Thank Flag Link Sun Aug 29, 2010
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