Max Pribbeno, Mortgage Broker
@MortgageLenderMax
In most cases, you don’t have to bring money to the table when refinancing. Closing costs can usually be rolled into the new loan, as long as your home has enough equity to stay within program limits. For conventional loans, the max loan-to-value is 97%, and for FHA it’s 98%.
Many lenders also offer the option of a lender credit to offset some or all of the closing costs. This can reduce or even eliminate the cost, though it typically comes with a slightly higher interest rate compared to options with no lender credits.
Did we answer your question?
Important Disclosures
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers. For full transparency, here is a list of our current advertisers.
Advertising impacts how and where offers appear on this site (including, for example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely independent and not provided, commissioned, or endorsed by any company, as our editors follow a strict editorial policy.