Question by Jennifer M: What is considered a closing cost in a mortgage refinance?
Answer by heywood
2% to 4 % of loan…the only out of pocket might be the appraisal fee and an assignment cost, if you’re using a broker. Could be higher if you are buying points. get a “good faith estimate” before doing anything.
What do you think? Answer below!
closing costs are going to be fee’s built into the loan …. for example
title insurance fee
fee from your closing company
also you have to remember they will more than likely be setting up a new escrow account for you, so that will show up on your fee’s as well (years worth of taxes and half a years worth of insurance usually)
if you need any more help let me know.