Posted on: 10th Sep, 2008 04:24 pm
Can you tell me what charges are included in the 3% for Texas Cash out Refinances on the borrowers primary residence?
Welcome lshaw.
The fees paid by the borrower for Texas cash-out refinance are limited to 3% of the loan amount. The 3% fees include origination and lender charges, third party fees such as credit report fee, appraisal fee, and title insurance premiums. Certain charges like lender paid fees, flood insurance premiums, home insurance premiums, property taxes etc are excluded from the 3% limit.
Thanks.
The fees paid by the borrower for Texas cash-out refinance are limited to 3% of the loan amount. The 3% fees include origination and lender charges, third party fees such as credit report fee, appraisal fee, and title insurance premiums. Certain charges like lender paid fees, flood insurance premiums, home insurance premiums, property taxes etc are excluded from the 3% limit.
Thanks.