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Refinance Closing Costs Made Simple
Lower Your Costs to Maximize Your Savings
Refinancing your mortgage can help you reduce monthly payments, shorten your loan term, or access equity—but what about closing costs? At APGFCU®, we make it easy to understand your options and choose the best path for your financial goals.
Ready to refinance?
Or call 888-LOAN-391 (888-562-6391) to receive a call from an APGFCU Mortgage Consultant, to learn more about refinancing.
What Are Refinance Closing Costs?
Closing costs are fees associated with processing your refinance. They typically include:
- Appraisal fees
- Title & settlement services
- Recording charges
- Origination fees
- Credit report fees
These costs usually range from 2% to 5% of your loan amount, but APGFCU offers flexible solutions to help you manage them.
Options for Managing Closing Costs
Pay Costs Upfront
Ideal if you want the lowest interest rate and have funds available.
Roll Costs Into Your Loan
Spread costs over time for budget-friendly payments.
No Closing Cost Option
Pay a slightly higher rate and skip upfront fees—perfect for short-term homeowners.
Ready to manage your closing costs?
Or call 888-LOAN-391 (888-562-6391) to receive a call from an APGFCU Mortgage Consultant, to learn more about refinancing.
Learn More About Refinancing
Looking to dive deeper into mortgage refinancing? Check out these helpful resources:
- Why Refinance Your Mortgage: Understand how refinancing can help you save money, access equity and choose a loan that fits your goals.
- Refinance Options for Existing APGFCU Mortgages: Learn how current members can refinance their existing loans for better terms.
- Deciding to Refinance: Understand the key factors to consider before refinancing your mortgage.
Mortgage Closing Costs FAQs
- What advantages does mortgage refinancing offer?
Refinancing can help you lower your monthly payments, reduce your interest rate, or change your loan term to better fit your financial goals. It can also allow you to access home equity for major expenses or switch from an adjustable-rate mortgage to a fixed-rate for stability.
- What factors should I consider before refinancing?
Before refinancing, think about:
- Closing Costs: These typically range from 2% to 5% of your loan amount.
- Break-Even Point: How long will it take to recover those costs through savings?
- Loan Term Goals: Do you want a shorter term or lower monthly payments?
- Current Rates vs. Your Rate: Will refinancing actually save you money?
- Does APGFCU offer special refinance options for members?
Yes! APGFCU provides flexible options for managing closing costs:
- Pay upfront for the lowest rate
- Roll costs into your loan for convenience
- No Closing Cost option for members who want to avoid upfront fees