Know what to expect — and how to keep them as low as possible.

One of the first questions most homeowners ask when considering a refinance is:
👉 “How much will it cost to refinance my mortgage?”

It’s a fair question — and the right answer is: it depends.

But here’s the good news: refinance closing costs are typically lower than purchase costs, and they can often be rolled into the loan, so there’s little or no out-of-pocket expense.

Let’s break it down.

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🧾 What Are Refinance Closing Costs?

Closing costs are the fees and services required to complete your new mortgage. They typically range from 2% to 5% of the loan amount, depending on the loan type and property location.

For example:

• $300,000 refinance = ~$6,000–$9,000 in closing costs (typical range)

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📋 What’s Included in Refinance Costs?

Here’s a breakdown of what you might see:

Fee Type	Description
Lender fees	Origination, underwriting, processing
Title fees	Title search, insurance, recording
Appraisal fee	May be waived on some refinances
Credit report fee	Pulling and reviewing your credit
Prepaid items	Taxes, insurance, interest (same as with purchases)
Escrow setup	Initial funding of your tax/insurance escrow account

📘 Your loan estimate will outline each fee clearly — and we’ll review it with you line by line.

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💡 Can Closing Costs Be Rolled Into the Loan?

Yes — and many homeowners choose this option.

This means:

• No large out-of-pocket expense
• Costs are paid over time instead of upfront
• Your monthly payment may go up slightly, but cash flow stays intact

💬 We’ll show you both options: paying upfront vs. rolling them in — so you can choose what’s right for your budget.

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🤝 Are There “No Closing Cost” Refinance Options?

Sometimes — but be cautious.

A “no closing cost” refinance usually means the lender covers the costs by offering you a slightly higher rate. It’s not free — it’s just repackaged.

At PRMI, we’re always transparent about the tradeoffs so you can make an informed decision.

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🧠 Pro Tip: Focus on ROI

Closing costs are real — but they should be measured against what you’re getting in return:

• Lower monthly payments
• Faster debt payoff
• Consolidated bills
• Long-term interest savings

We’ll run the numbers to help you see how long it would take for your savings to offset the cost of the refinance — known as your break-even point.

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🏢 Why PRMI?

We’re a direct lender, which means:

• We control most costs in-house
• We don’t mark up fees to “shop your loan” like brokers often do
• We’re transparent from day one — no surprises at the closing table

You’ll always know what to expect — and why.

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👇 Want a Personalized Estimate?

Let’s review your goals, run the numbers, and give you a crystal-clear look at what your refinance would cost — and save.