What are the average refinance costs typically associated with a mortgage?

Good Afternoon! Closing Costs depend on a variety of things, including the Loan Amount, your Escrow Account Setup (for Taxes & Insurance), your Property Type (Appraisal Fee depends on this), as well as your Title, Settlement, & Recording Charges specific to your area. Having a review of your loan scenario could help get a better idea of the costs, which can typically be refinanced into your new loan amount allowing for you to not bring any funds to closing. The Appraisal would be the 1 item that you would need to pay for in advance, assuming you are not eligible for any appraisal waivers! I'd be happy to discuss your scenario in more detail offline whenever you are ready! Enjoy the day!

There is no "Average"... If your purchasing or refinancing, the costs will be different.. Some of the costs associated with a mortgage are "Fixed".. Meaning, if you purchase a $50K home or a $550K home, the cost is the same.. Other fee's are "Variable".. Meaning they will be based on the property value, or loan amount... Also, depending on if your refinancing or purchasing, you can get contributions to your costs either from the seller, RE agent, or lender, which would lower the fee's you pay.. You should stop guessing and contact a local mortgage and have them look at your complete scenario.. That's the only way to be accurate.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

The answer to this question would be contingent on your current scenario. The costs or credits incurred are different for everyone. Please feel free to call me anytime and I will provide you with a Veteran loan Officer to run your scenario and tell you exactly what it will cost for you. 714-881-5970 Newport Beach, Ca.

All costs are different and they vary by loan and who is going to pay them. Who pays them is deteremined by your specific situation. The costs of all loans at a minimum are an appraisal fee, title fees, and origination fees which can include processing, underwriting, and the lenders compensation. If you pay them you may get a lower rate, which is generally best if you are going to stay in the home for a while, Or you can do a NO Cost loan where the lender pays for the costs but this raises your rates and is generally not suitable to do if you will be in your loan for a long time. You need to talk to a Lender411 loan officer to evaluate your situation.

Closing cost can very depending on the program, the lender and the state you live in. In Indiana it is $800 to $1800.

Depends on the program and your specific scenario. Third-Party costs such as Title, title insurance & appraisal etc. will be roughly the same regardless of the program. FHA loans however have a required upfront mortgage insurance premium which can easily dwarf your third-party expenses. Rates are still very good and you can always adjust your rate slightly to increase the lender credit and hopefully cover most if not all of the costs.

All loans have closing costs based on two areas: Fixed costs that do not change with the loan, and costs that are based on the loan amount. Therefore there really isn't any "typical" cost. Then, the next question is how do you pay for those costs. A loan can have thousands of costs (lower rate), or you can eliminate some or all of the costs with a higher interest rate. Because of this, your best answer is achieved by calling alocal mortgage broker. Give them your exact situation, and let them zero in like a laser beam on what works best for you. www.MetzlerMortgage.com

Yes I Agree - The answer to this question would be contingent on your current scenario. The costs or credits incurred are different for everyone. Usually they can range from 2.5% to 4% of your total loan amount. However this includes items that really arent closing costs........Such as escrow, prepaid insurance things of that nature. Andrew

We have programs with no lender fees or underwriting fees. Then the only costs you would incur are your third party title and recording fees. That will depend on your area and title company you choose. We also work with direct title underwriters to keep your fees as low as possible.

Costs: Lender Fees - Escrow -Closing - Government Everyone can be different but for argument sake $1,000 for lender fees - Escrows (do you need them?) LTV's below 80% do not require escrow but if you do in a refinance your taxes and insurance may be a wash meaning you will fund your new escrow and get a refund of your old - Closing $1,000 plus title insurance - Government - record the new Deed of Trust and Note each state varies and your state may charge additional fees. Best thing to do is have a closing cost estimate prepared for your particular situation.

Depends on where you live and the value of your house. You can always count on paying for Escrow, Title, Notary, Credit Report, Flood Certificate, MERS and appraisal fees. Some States also charge Mortgage Tax and Intangible Tax.

Generically speaking, estimate between 2.5%-3.5% of the loan amount as closing costs and prepaids for a refinance. If you want more specifics, speak with your loan officer.