a. This is a refinance (Paying off existing loan)or modification of a property that is NOT your principal residence. b. You are the original mortgagor or assumed the debt from the original mortgagor. (For tax purposes) county transfer tax on the difference between the new loan amt. and the original amt. of the loan(s) being refinanced.

This means if someone is refinancing a property where the original principal balance is greater than the face amount of the new mortgage, there will not be any recordation taxes charged. It should be noted that all refinances must be accompanied by a refinance affidavit complying with the requirements of 12-108(e) of the Tax-Property Article.

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Do I have to pay transfer tax on a refinance in San Diego? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

Pros And Cons Of Auto Refinancing Max Ltv Cash Out Refinance Most lenders can approve a cash-out loan up to 80% loan-to-value ratio. So a homeowner who has 30% equity can take up to 10% of that equity in cash with a cash-out refinance. Cash-out refinance rates are slightly higher than no-cash-out loans. The difference is about one-eighth of one percent.

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Pennsylvania real estate transfer tax. In Pennsylvania we have a "deed transfer tax". Consider it a sales tax on real estate. One per cent of the entire sales price is paid to the State of Pennsylvania and another 1% is (usually) divided equally between the school district and local government for a total of two percent of the sale price.

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Cost Basis. Even though you can’t deduct the cost of state tax stamps when you refinance your home mortgage, that expense is not a total loss. You can add the amount you paid for transfer or stamp taxes to the original purchase price of your home to increase your cost basis.

BEST ANSWER Normally, no transfer tax on refinancing in any city and county. However, if you add or remove a person or persons that are not your spouse on the title of the property, transfer tax will be imposed on you. You can consult your local escrow officer for the amount.