Can Better waive the refinance appraisal fee?

Before you can refinance your loan, you may need to have your home appraised to assess its fair market value. This evaluation is conducted by a third-party home inspector and costs between $300—$550 for a single-family home. You’ll see this fee outlined as part of your closing costs, although you actually put down a deposit to pay for it when you lock your rate with Better Mortgage. Because the appraisal fee covers a service conducted by a third-party, Better Mortgage can’t waive this cost. The only way to avoid paying this amount is if your home qualifies for a Property Inspection Waiver (PIW).

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More resources

• Why do I need to pay an appraisal fee before closing?
• What’s a no-closing-cost refinance and is there a catch?
• How to refinance my mortgage in 3 weeks
• Free Mortgage Refinance calculator: See how much you can save