What costs should I take into account if I refinance a home loan or mortgage?

When refinancing a home loan or mortgage, it is important to take into account several costs specific to this process. Refinancing involves taking out a new loan and transferring the mortgage to the new bank, which entails certain expenses:

• Review fee

• Property appraisal fee

• Notary fees – for the notarization of documents and the registration of the security interest

• Potential administrative expenses – these may include various fees specific to the refinancing process

• Mandatory insurance