Guide
How much does it cost to refinance?
Refinance closing costs commonly run 2% to 5% of the new loan amount. On a $300,000 refinance that's roughly $6,000 to $15,000, and your lender's Loan Estimate shows the exact figure.
Last reviewed November 13, 2026 · Examples use this week's rates
30-yr fixed avg 7.11% as of November 12, 2026
Source: Freddie Mac PMMS
What's included
Lender charges (origination, underwriting, points if you buy them), third-party services (appraisal, credit report, flood certification, title search and lender's title insurance, settlement or attorney fees), government fees (recording, and in some places mortgage or transfer taxes), and prepaid items (interest to the first payment and the initial escrow deposit for taxes and insurance).
Why costs vary
Local taxes and title practices differ by state and county. Loan size changes percentage-based fees, while some fees are flat. Points and lender credits move costs up or down in exchange for a lower or higher rate.
Paying vs rolling in
You can pay at closing, roll costs into the new loan, or take a lender credit. Rolling in or taking a credit saves cash today but costs more over time. The closing costs calculator shows the payment impact.
How to lower them
Get Loan Estimates from more than one lender and compare the same lines. Ask your current title insurer about a reissue rate, shop services the Loan Estimate says you can shop for, and question any fee you don't understand.
Worked example at this week's rates
- $200,000 loan: $4,000–$10,000; rolling them in at 7.11% adds $27–$67/month.
- $300,000 loan: $6,000–$15,000; rolling them in at 7.11% adds $40–$101/month.
- $450,000 loan: $9,000–$22,500; rolling them in at 7.11% adds $61–$151/month.
Rates are Freddie Mac PMMS weekly averages — a national purchase-mortgage benchmark, not a local refinance quote. Closing costs are estimated at 2% unless stated, and payments are principal and interest only.
Run your own numbers
Use the Refinance closing costs calculator with your balance, rate and costs.
Estimates only. Default rates are Freddie Mac PMMS weekly averages — a national purchase-mortgage benchmark, not a local refinance quote. Payments are principal and interest only. reficalculator.com is not a lender or broker; see how we calculate.
Frequently asked questions
- What is the average cost to refinance?
- A common range is 2% to 5% of the loan amount. We use 2% as the default in our calculators.
- Can I refinance with no closing costs?
- Yes, with a lender credit or by rolling costs into the loan, but you pay through a higher rate or balance.
- Do I need an appraisal?
- Most refinances require one; some streamline programs may not.
- When do I see the exact costs?
- Lenders must give you a Loan Estimate within three business days of your application, and a Closing Disclosure before closing.
- Are closing costs negotiable?
- Some are. Lender fees and shoppable services can often be compared and negotiated.