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I am thinking to refinance my mortgage. How accurate are the estimated fees posted on Zillow.com?

Any possible hidden fees due to some "special cases"?
  • January 09 2011 - Portland
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Answers (10)

I blieve that they are accurate BUT your best bet is just to call and talk with someone. Google also works well. Good luck.
  • January 13 2011
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I guess it depends on who is quoting you. In this market place until you get the Good Faith Estimate it really doesn't hold water. As mortgage bankers we must disclose to you a accurate cost of doing business within three days that may be off by no more than 10% of the total cost of doing the refinance. I would check with a fee lenders to get the best figures with current interest rates. Rates are about 4.5% currently.
  • January 12 2011
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Profile picture for matp2
Thanks all the people who answered my question. The information you provided is very helpful and has made me more comfortable. Thanks again. Also thanks Zillow for providing the site for us.


  • January 11 2011
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About as accurate as the respondent's business ethiics.

Happy funding, Rudi
  • January 10 2011
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Profile picture for Steven G. Hinton
I know my fees are accurate and presume most lenders are posting accurate fees.

What can be a little confusing for borrowers is the no lender fees loan. It is not a quote for all non-recurring closing costs. The no lender fee covers just lender fees and not escrow, title, notary etc...

Also quotes are for 30 day locks at the time the quote was generated. Because rates change often there is a strong likelihood that the interest rate you lock in will differ from the original quote. Most folks are not in a position to lock at the moment they receive a quote.

This isn't any different from loan quotes you receive anywhere else.

  • January 10 2011
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Profile picture for Oregon Mortgage Pro
Do research on 2-3 Loan Originators to confirm credentials and source and get customized quotes from them directly.
  • January 10 2011
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Fees in many cases are related to the interest rate so when you select a lender you should receive a quote based on fees and rate at that moment.  I said moment because the market has been unpredictible daily and sometimes hourly. There have been times that a rate change increase occurred while quotes were being sent. This is not a typical market but it is the one we are dealing with........Lenders get quotes from investors daily but can change hourly, so their quotes are subject to the market movement.  Lenders that bait and switch though fortunately  tend not to survive so dealing with an experienced loan officer at a reputable lender is best option.  If you llike the quote you receive and are ready to lock in, after receiving your application/financial details by phone, email, or fax, the loan officer will send you a Good Faith Estimate. Their Origination Fee Charge has to be exact (except of circumstances change)  and there is a  10% tolerence on their other fees. Title co fees can vary but an experienced loan officer will verify those fees, too. If you compare fees/rate and one stands out as to good to be true, be sure you base your decision on the GFE(s) and confidence in person and company you are about to commit to.....
  • January 10 2011
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Zillow is a very informative site, but it can only give a computer-generated estimate of the worth of your home.  It cannot take into consideration condition, special amenities, specific location within your neighborhood, etc.  You really need a market analysis performed by a trusted Realtor or an appraisal to determine possible market value!  As far as fees for a refinance, you should contact several professional mortgage brokers and ask for a "good faith estimate" or "good faith summary" in writing.  This will disclose all fees involved in your refinance.  All the best...jj
  • January 10 2011
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I think you shoul contact the bank you want to do refi with and ask about their fees. It varies from bank to bank. Zillow is just an estimate and can give an idea, but not the exact number.
  • January 09 2011
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The fees should be very accurate, if not exact.  Lender fees including the appraisal are known up front.  The main variable are title fees.  Depending on your location and the last time you refinanced/purchased your home, you or your lender may be able to negotiate a "reissue rate" for title insurance.  


Look for a lender with a high rating and you will not have issues with lender fees.  
  • January 09 2011
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