What are normal costs of refinancing an owner occupied Duplex?

Question

Hello,

I am looking into refinancing my owner occupied duplex to getting rid of my PMI and take advantage of lower interest rates. What are normal costs? Points? Closing costs? Is it possible to do no points and roll the the closing costs into the loan?

Nick Rutkowski · Answer

@Kathe Gerhardt

You’ll have to ask your local banks about their rates and terms. If I was to make a suggestion, I’d talk to a credit union or a local lender before talking to a bigger institution. In NY, I’ll pay between 1500-2500 origination fee, no points which I can roll into my loan. 80% LTV on residential 75% LTV on commercial.

What are normal costs of refinancing an owner occupied Duplex?

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