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Off Topic Off Topic - General non-Corvette related discussion. |
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06-16-2020, 2:19pm | #1 | ||||||
A Real Barner
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Question for FLA peeps:
By Brother-in-Law wants to refinance the mortgage on his house. He is not paying points, or anything like that, just a few hundred dollar initiation fee, and some other little fees, but the total closing costs are $14K. I went to the detail, and they are charging him $6,000 for title insurance, and $7,000 for "transfer tax". He is not selling the house, or re-titling it in any way, but his mortgage broker swears that you have to pay that every time you re-finance. Does this sound on the level to anyone?
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06-16-2020, 2:22pm | #2 | ||||||
A Real Barner
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His broker is FOS. We refi'd ours and the total refi costs were well nunder $5k total, which the CU paid, most of which was the loan origination fee the CU usually charges.
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06-16-2020, 3:24pm | #3 | ||||||
Sparkles Flambeaux
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take that 14k and put it toward the principal. pay it off faster and be done with it.
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06-16-2020, 3:52pm | #4 | ||||||
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$14k CLOSING costs on a refi ???
That's not right. They should be paying him to refi with them. Tell him to bail and to find a better ddal, even if he has money into it already What state is he in? State of shock I'm sure. |
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06-16-2020, 4:00pm | #5 | ||||||
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Doesn't the OP understand that this is OT and we all paid cash for our houses?
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06-16-2020, 4:36pm | #6 | ||||||
Chief Electrician
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06-16-2020, 4:58pm | #7 | ||||||
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Sounds like a load of crap to me.
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06-16-2020, 5:23pm | #8 | ||||||
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06-16-2020, 6:10pm | #9 | ||||||
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06-16-2020, 6:25pm | #10 | ||||||
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06-16-2020, 6:29pm | #11 | ||||||
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06-16-2020, 6:34pm | #12 | ||||||
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06-16-2020, 8:20pm | #13 | ||||||
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Title insurance is 5.75 to 5.00 per . How much is the home he is buying?
https://titlepartnersofsofl.com/flor...per%20thousand |
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06-17-2020, 12:39am | #14 | |||||||
Due to inflation they are no longer free
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Quote:
The space rent for a mobile home in a mobile home park starts at $2,100 and goes up to $3,500. And that's for a senior park here. You go to Newport Beach, Laguna beach, and Dana Point and it's 5-7K a month. I never heard of $500 a month space rent unless you're talking 30 years ago. Only one park that i have heard of that you could own the land underneath your home which would be 36' x 90' and that cost 700k plus the homes are around 500k. But they do have a ocean view. |
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06-17-2020, 12:51am | #15 | |||||||
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Quote:
On the plus side, all of our radio stations are in English. |
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06-17-2020, 1:41am | #16 | |||||||
Due to inflation they are no longer free
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It's pretty up there. Homes are cheaper because of no industry. Nice area to retire in. I'll take 100 degrees with no humidity over 80 plus degrees with humidity any day. |
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06-17-2020, 7:43am | #17 | |||||||
That's MR Hole To You
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Quote:
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06-17-2020, 7:43am | #18 | |||||||
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Quote:
BIL sent me this link from his broker: http://www.choicefinance.net/florida-closing-costs.htm If you scroll down a little, it does say you have to pay a "doc stamp" of $3.50 per thousand and an "intangible tax" of $2.50 per thousand, so even though it isn't a "transfer tax" per se, that site is saying what they are charging him for taxes is approximately correct. Thanks! |
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