Refinancing Cost Calculator: What Will My Refinance Costs Be?

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When considering refinancing your mortgage, it’s important to figure in how much your refinancing costs will be. Sometimes, your refinancing costs can be so great that you might decide it’s not worth refinancing. Enter your information in the refinancing cost calculator below to help yourself become better prepared for how long it will take you to start seeing the savings from refinancing your mortgage.




Determining your refinancing costs with our refinancing cost calculator is easy, but make sure you know the following information in order to get the most accurate picture of what your refinancing costs will be.




To begin, you’ll need to know the basic details of your newly refinanced mortgage. This includes (1) the original purchase price of the property, (2) the amount of the loan taken out to pay it off, (3) the loan term in years (typically 15 or 30), and (4) the new interest rate.




In addition to the actual terms of the mortgage, there are costs of origination that are due to the lender and/or broker. You’ll need to know both the sum total of all origination charges and any charges due to obtain a lower interest rate on your mortgage loan, which is generally expressed as a percentage of the loan amount.




On top of the basic mortgage costs and origination fees, there are often other services the lender will require to protect their investments. These can include:

  • The cost of an appraisal of the current value of the property. Appraisal costs can vary, sometimes between $300 and $600, and it is an important factor in determining if refinancing makes sense for you.
  • The costs of a report on your current credit situation. This can often be found for no cost at all.
  • Flood certification on the property — mandatory in certain areas — can cost $50 to $150.
  • Tax services fee.
  • The lender’s title insurance fee. Title insurance guards against any problems that may arise with the title transfer.
  • Your own title insurance fee. Just as your lender wants to be prepared against any problems that may arise, so must you be.
  • A recording fee, which is a fee charged by the county or city government for registering a real estate purchase or sale, allowing it to become a matter of public record.


Inputting all of this information in our refinancing cost calculator will give you a good idea of your total refinancing costs as well as your monthly payments.