The closing costs associated with your Refinancing Loan are similar to those you pay when you make a new home purchase. At TLC Lending, however, you have options for how you'd like to pay these costs.

• Out of pocket. Simply pay the costs by writing a check at the close of escrow.
• Take a slightly higher interest rate for your loan
• Have your closing costs included (or "rolled into" ) the principal loan balance

Some of the costs of closing the escrow when you refinance your home, will be the same as when you first purchased your home. For example, Origination Fees, Discount Points, and Processing Fees. TLC Lending wants to ensure that you are educated and informed about the entire refinancing process. Below we have explained a few of the more common cost terms for your convenience.

• Loan Origination Fees: This is the administrative fee involved in acquiring your loan. Generally this fee will be based on a percentage of the loan.
• Points: Also known as "Loan Discount Points." At the close of escrow, the lender is paid a percentage, based on the interest rate of the loan. Each point is represents one percent of the sales price.
• Processing Fees: These are fees directly related to loan qualification and evaluation. Some examples include the fee for application, loan processing, and risk evaluation.

There are more than just the loan fees you will want to consider. Within three days of your loan applications, TLC Lending will send you a good faith estimate that will show you all of fees you should anticipate. A Good Faith estimate as the name implies, is only an estimate. There may be more or less costs involved by the time your loan is closed.

Are you ready to refinance? Why Wait? It's fast, it's free, and it's easy. Get a free quote now!