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so we called Wells Fargo & asked how much it would cost to refi our home ....would you believe $4,860.12 !
I asked why so much since we already have our home financed thru Wells Fargo. The lady says...."because it would be a new loan". DUH !
So we just decided to stay with our old loan because we will be moving in 3 to 4 years when hubby retires . No need to add that much to our loan since we will be selling this house
Since the great Dodd/Frank financial reform bill, mortgage originators can't have rebate or points on the back, so all costs are now upfront. It costs the bank about $1,500 to underwrite a loan (good or bad).