How much money do you have to pay for closing cost when you refinance home loan? ?

k2 asked:


I hold à to refinance my house à low level. My prêt is of 200.000. J& #39; have my première time propriétaire, my rate current is of 6,5%. J have my own house for approximately two months, my crédit is good, not excel. I would like to know a park of it of ball about the payment of the coÔ ts of closing. Also is closing coÔ you of l& #39; money of which j& #39; have need to arrive �

Jerry

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One Response to “How much money do you have to pay for closing cost when you refinance home loan? ?”

1. snelsonjd Says:
   June 4th, 2009 at 11:53 am

   if you have equity in your home the closing costs can be wrapped in the loan. if you don’t the lender can-raise the rate so they cover closing costs with a higher rate.( fact is most loans have some yield spread added to them) as far as closing costs approx 2% is a fair amount some charge.

   unfortunately the national average is 3 1/2 % closing costs

   and yes all no closing cost loans are charging a Higher rate to use that yield spread to cover closing costs for you!