Worksheets

Worksheet: Costs of Refinancing

Cost

Example

Lender 1:

Lender 2:

1. Points

$1,000

_______________

_______________

2. Application Fee

$350

_______________

_______________

3. Title Search and Insurance

$500

_______________

_______________

4. Inspections

$200

_______________

_______________

5. Survey

$150

_______________

_______________

6. Underwriting Fee

$200

_______________

_______________

7. Credit Report

$50

_______________

_______________

8. Appraisal

$250

_______________

_______________

9. Attorney Fees

$250

_______________

_______________

10. Recording Fees and document preparation

$50

_______________

_______________

11. State and local taxes, stamp taxes, transfer taxes.

?

_______________

_______________

12. Prepaid Private Mortgage Insurance (PMI)

?

_______________

_______________

13. Other (if any)

?

_______________

_______________

Total Cost of Refinancing

$3,000

_______________

_______________

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*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a Registered Broker-dealer (Member FINRA/SIPC) and SEC-registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. General Electric Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.