Video Transcript
You are going to pay 37% more to your lender for refinance versus a purchase. This from close to 8 million mortgage applications filed in 2024. The typical refinancing household paid about $3,100 per refinance to their lender in loan fees and that's after closing cost credits, and negotiation. It represents about 0.9% on the average loan size which might make sense to pay in the right situation. With mortgage rates down this season, a lot of homeowners are talking with lenders about a refinance. If this describes you, double check that you're making a good choice. Try the Does This Refinance Make Sense Calculator on our website. Saving lots of money is good. I'm Dan with Homebuyer.com. Happy homebuying.
Refinancing A Mortgage Costs 37% Than A Purchase: Study
A study reveals that homeowners refinancing their mortgages pay 37% more in lender fees compared to those purchasing a home. In 2024, typical refinancing costs averaged $3,100 per household after closing cost credits.
Video Transcript
You are going to pay 37% more to your lender for refinance versus a purchase. This from close to 8 million mortgage applications filed in 2024. The typical refinancing household paid about $3,100 per refinance to their lender in loan fees and that's after closing cost credits, and negotiation. It represents about 0.9% on the average loan size which might make sense to pay in the right situation. With mortgage rates down this season, a lot of homeowners are talking with lenders about a refinance. If this describes you, double check that you're making a good choice. Try the Does This Refinance Make Sense Calculator on our website. Saving lots of money is good. I'm Dan with Homebuyer.com. Happy homebuying.
