How much does it cost to refinance a mortgage?

Refinancing a fixed or variable-rate loan involves many of the same costs as applying for a new mortgage. In most cases, total refinancing costs range from about 2% to 5% of the loan amount, and may vary based on the lender, property, and loan type. Typical refinancing costs include:

• Fees
• Discount points
• Prepaid interest
• Property taxes and escrow funding