What would the closing cost be to refinance my mortgage or purchase a new home?
Closing costs vary depending on the type of mortgage as well as the amount of the loan, the following are examples of closing fees for both refinancing and purchasing: i.e. of refinacing- approximately $2,800.00 on a 30-year fixed rate mortgage with a loan amount of $200,000.00. i.e. of a home purchase- for a $200,000.00 mortgage with a term of 30-years the fees are approximaely $1800.00. Fees are a little less on a purchase as opposed to a refinance, because the seller bears some expense.
