What are the costs to refinance?

Refinance closing costs typically run 2% to 5% of the loan amount, covering the appraisal, title work, lender fees, and prepaids. On a $300,000 refinance that's roughly $6,000 to $15,000.

You can often roll these into the new balance or take a lender credit to reduce out-of-pocket cost. We'll calculate the break-even so you know how long until the savings cover the costs.

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