How Much Should a Closing Attorney Cost for a Mortgage Refinance?

Negotiate the fees when refinancing your home.

Varies By Region

Refinance settlements are sometimes conducted by an attorney, according to the Federal Reserve Board. The closing attorney provides a service to the lender, such as examining the title binder, says the Department of Housing and Urban Development. According to Quicken Loans, a nationwide mortgage lender, lenders' attorney fees range between $150 and $500. Pat Sabin, a Georgia real estate agent, says attorney fees in that state range between $400 and $500.

Shop It and Negotiate

Although attorney fees themselves may not be negotiable because they go to a third party, you can still negotiate by "playing the lenders off each other" for the refinance best deal. Mortgage experts recommend obtaining settlement estimates from as many as a dozen lenders, says Smart Money. These estimates will show you what the going rate, or customary fee for your area, is. Less-than-reputable lenders may overcharge, so it's important to ask why their attorney fee is significantly higher.

Bottom Line

Not all states require a lender's attorney for settlement, according to Quicken Loans. Attorney fees generally vary by region and are based on the customary fee for the area they service. The Federal Reserve Board recommends that consumers "shop around and ask for information on all services provided and all fees charged." By shopping your refinance loan with various lenders, you will pay the going rate for attorney costs.

References

• Quicken Loans: Closing Costs and Fees Explained
• Pat Sabin: Estimated Costs of Closing in Georgia
• Smart Money: Cut Your Closing Costs

Resources

• Federal Reserve: A Consumer's Guide To Mortgage Settlement Costs
• HUD: Your Settlement Costs: Attorney's Fees