Zillow Advice: Mortgage - Why does GFE for a re-finance include transfer tax? http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ Zillow Advice | Zillow Real Estate user225317,until the CEMA ... http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ user225317,<br/><br/>until the CEMA gets processed transfer tax exists. &nbsp;if you need help on a refi reach out to me. &nbsp;i have the most competitive rates in the NY area. Thu, 29 Jan 2015 18:35:00 GMT http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ 2015-01-29T18:35:00Z Transfer tax is a seller ... http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ Transfer tax is a seller paid closing cost, when their home sells. In MI the seller will pay $8.60 on each thousand when they sell their home. If this is a refinance, there is no seller, which means it should not be on the GFE (especially considering that its a massive amount). I would contact a real estate attorney.<br/><br/>Scummy bank Thu, 29 Jan 2015 16:33:00 GMT http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ 2015-01-29T16:33:00Z by which time, the lender ... http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ by which time, the lender missed the opportunity to put it on the GFE.<br/>=======================<br/>no they didn't. It's a valid changed circumstance and can be added to the GFE. Mon, 18 Feb 2013 14:16:00 GMT http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ 2013-02-18T14:16:00Z On a refi, the lender assumes ... http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ On a refi, the lender assumes that the borrower's names are on title as they appear on the application.&nbsp; If that is the case, a transfer tax would not be needed.&nbsp; <br/><br/>However, a remote possibility exists that the title may be in the name of an LLC or some other such entity (life estate, family trust etc.) and the borrower neglects to mention this fact and states that indeed s/he does "own" the property. It is my experience that spouses can be added to tile or removed without the transfer tax.&nbsp; If one of the borrowers took title while they were single and that borrower is now married and would like to add their spouse, that usually is done without a transfer tax.<br/><br/>When the title comes back with the legal ownership name and it is not as the borrower would like, any change of the ownership to reflect the borrower's wishes may trigger the transfer tax, by which time, the lender missed the opportunity to put it on the GFE.<br/><br/>It's either that or the lender is using software that pre-prints the transfer tax and they did not take it out.<br/><br/>If you are taking out a new mortgage, know how your property is currently held and how you would like to hold title.&nbsp; Be sure to check the county assessor's website to see how it is currently held and check with a good real estate attorney for advise as to how you should take title.<br/><br/>Either way, when you talk to your mortgage advisor, make sure they know what your current situation is and what you would like to it be. Mon, 18 Feb 2013 02:40:00 GMT http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ 2013-02-18T02:40:00Z thanks for the input....yes, ... http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ thanks for the input....yes, I do think they're just putting in on the GFE just in case (to cover their backs) and they told me verbally that it does not apply to use because it's a re-fi. I'm not sure I can get it in writing before I have to send the initial paperwork back (am going with USAA, and thus doing the paperwork remotely) so i will take a deep breath and assume all is fine.&nbsp; Fri, 09 Nov 2012 00:36:00 GMT http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ 2012-11-09T00:36:00Z remote posisbilty? If you ... http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ remote posisbilty? If you are in PA as the heading suggests then there is no transfer tax on a refi when ownership is not changing hands; it'd odd, though not unheard of, that they'd put one on the GFE.<br/><br/><br/> Thu, 08 Nov 2012 18:09:00 GMT http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ 2012-11-08T18:09:00Z They do not have to put it ... http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ <p>They do not have to put it on there but they are covering themselves in the remote chance that transfer tax is required.&nbsp; That is one of the boxes where we have a zero tolerance and if there was indeed a transfer tax, they would have to pay for it.&nbsp; Get an email from the lender stating that transfer tax will not be required.&nbsp; Better yet, have them send you an email from the title company that transfer tax is not needed.&nbsp; When they pull title that will ultimately decide whether or not it is needed.</p> Thu, 08 Nov 2012 14:35:00 GMT http://www.zillow.com/advice-thread/Why-does-GFE-for-a-re-finance-include-transfer-tax/467743/ 2012-11-08T14:35:00Z