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Home Financing Library

Mortgage Refinance Costs

When you refinance your mortgage, you usually pay off your original mortgage and sign a new loan. With a new loan, you may pay most of the same costs you paid to get your original mortgage. These can include settlement costs, discount points, and other fees. The total expense for refinancing a mortgage depends on the interest rate, number of points, and other costs necessary to obtain a loan. It also may be possible to include the mortgage refinance costs with the loan amount in order to avoid paying for the closing costs out of pocket.