What is the 0.5% refinance fee?
What is the 0.5% refinance fee? The fee, which was imposed on December 1, 2020, added a 0.5% charge to total refinance costs. If borrowers were refinancing a loan of $300,000, for example, the extra charge meant they would owe an additional $1,500. The extra charge was designed to cover losses projected as a result of the pandemic.