Refinance closing costs

[zetta]

I just started the refinance process, and locked in a rate of 4.75% with .375 points. The mortgage broker said the closing costs would be about $2800 plus the points. I haven't gotten the detailed estimate yet -- does that amount seem high?

[noppenbd]

Can't speak to the average, but I am in the process of doing a refi now, and our closing costs are $2200.

Breakdown:
Appraisal $325
Credit report, tax service, Underwriting, Flood Cert, Courier, Judgement report: $179
Title Insurance: $500
Settlement fee: $600
Document Prep: $200
Tax & transfer fees: $245
Survey: $150

[MonkeyMama]

It sounds pretty good considering your situation. (location, size of loan, etc.)

All of our refis (2000 - 2008) have averaged about $2k-$3k without points. We just refied a couple of months ago, as well.

BUT I was just reading an article that closing costs have been absurdly low in recent history, with all the fluff/undocumented loans. & that closing costs are increasing. I haven't necessarily seen it yet, but something to consider as a possibility.

[Phatphoeater]

We are in the process of refi'ing and are looking at 3300 in CC without any points. I think it has to do with the regional markets. It doesn't mean these costs are non-negotiable. Part of the shopping around process is looking at the good faith estimates of closing costs as these add to the cost of the loan overall.

[FrugalFish]

We are in process of a refi. Without points we are paying $2200, which includes the up front application fee. We have a large amount of equity, so will not have an impound account. Were we to have to fund the beginnings of an impound account, closing costs would obviously be higher.