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Mortgage Refinancing & Closing Costs

Mark Cappel
UpdatedMay 11, 2009

If you are refinancing a home, can you get the loan to include all closing costs?

If you are refinancing a home, can you get the loan to include all closing costs? What if that amount is more than the appraisal of the home?

Since your mortgage balance is more than the value of your home, you may have trouble obtaining a refinance loan, as most lenders are not willing to extend loans that exceed 100% of the value of the property. However, as a response to the recent downturn in the U.S. economy and housing market, the federal government has been pressuring lenders to work with consumers who are struggling with their mortgage payments, and is offering incentives to lenders to provide refinancing and modifications to borrowers that are "underwater" (owing more than the house is currently worth).

If you want a mortgage refinance quote with's pre-approved providers, please follow this link:

Free Mortgage Refinance Quote

I encourage you to contact your lender and inquire about the options available. Also, be sure to check out the federal government's official site Making Home Affordable addressing mortgage refinancing and modification programs.

As for question regarding closing costs, many lenders do offer a so-called "no cost" refinance loans in which the borrower doesn't pay many of the fees typically charged at closing. The term "no cost" is a bit misleading, as these loans usually carry a higher interest rate that, depending on the amount of time it takes you to pay off the loan, may end up costing you more in the long run. (You can read more about "no cost" mortgages at

I wish you the best of luck, and hope that the information I have provided helps you Find. Learn. Save.