Refi costs

How can we negotiate costs on a refi?

Can we choose the same title company as the original mortgage when doing the refi?
Is there a rule/law in CA that the title company should give a discount on the title fees (owner and lender insurance) if you are doing the refi say within 1yr/2yrs etc? From my research online in Texas title companies have to discount 40% if you redo the loan with them within 2 yrs.

Whats your experience in negotiating on the costs on refi? (both the bank fees and title fees)

I want to get the best possible rate from different banks without considering costs and then work on what costs can be discounted

Well, any refi I have done in the last 10-15 years have been “no cost, no fee” so honestly I didn’t really care about the costs as long as my interest got better (which of course it did or why do it right) and my payment was reduced. I would check with a mortgage broker like my Tracie who can do the research kind of for you so you needn’t have to do it on your own.

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Thanks @LbJW

If I end up relying on the cash out refi game for rehab projects, I better understand the fees included as well and be technical. The BofA officer quoted 3400 in fees so I will know ask him to give a schedule and question on each loan item. Thanks

Agreed, I was never under the impression that truly those “no cost, no fee” refis were that, no cost no fee. I get it, the costs are rolled up into the loan or there is a higher rate but honestly it has worked for me over the years. Each time I did it, better rate and/or lower payment.

I forget, @LoansbyJW, if you worked for a bank or a mortgage brokerage house or for yourself. I have worked with Tracie from Googain for many years and she is well known in the Fremont area and SV. Hey, she managed to get me my existing 2.50% fixed 15 yr conforming loan years ago. I’m happy…

OMG, talk about too much information! Even Stevie Wonder would figure it out…


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I never understand why there are so many mortgage bankers around Irvine. What makes it the mortgage capital of the country?

Ground zero for Country wide…The loan corruption center of the universe

I was getting super hot 3.25% 30 year fixed with no/zero cost refi from Costco mortgage services with a minimum of 35% equity @ a year back. Unfortunately, that rate was just a few months after my purchase of the home.

Was that you in Costco SF this past Saturday?:grinning:

I wish… assuming you’re referring to the yellow car & Not the dude in the upper left corner :slight_smile:


I second @sfdragonboy. I have worked with another agent (not his Tracie) from Googain and got no-cost no-fee refi rates. Way better than calculating and comparing costs.


So Cal is the center for evil in the mortgage field…

Sorry but without sleazy OC lenders the financial crisis would not have happened…LA OC all the same shit…So Cal is a mess and NorCal should form its own state…

You can write off a higher interest rate but not closing costs (besides points). So I’d still choose no fee all else being equal.

Yeah, and presumably that “higher” rate is still below what you are currently paying (or why even do the refi?). Now, my Tracie typically only works with fairly clean profiles, higher income folks and strong credit scores, but she will be your advocate in finding the best rate. Even keeps you abreast of the rates so that if they do go lower, she already tells you how much you would save. Doesn’t waste your time. Since she has all of your information, you don’t need to start from scratch in terms of doing an app again. Just updated tax returns and pay stubs. Electronic signing for a lot of the paperwork and the guy shows up at your house for the doc signing in your PJs. Boom, done! I can honestly say that she is a big reason why my cash flow has been so good since borrowing costs are as lean as they reasonably can go. Come on, a 2.50% fixed rate? I don’t know anyone with a lower rate, even if they paid for it.

In my experience, all agents from Googain are able to give good rates

Ok, I will temper my enthusiasm for my Tracie then… I do appreciate the gift cards she sends me typically for Christmas though…

Ooohh, I want deets on Tracie’s rates. Might be looking to do a cash out refi. Would she have good rates for that? You can PM me.

Yeah, PMing you right now. Based on Fremont side but have done more than a dozen refi’s over the years with her via phone/mobile notary service. Good person to bounce financing ideas off of.