Can you refinance your mortgage without closing costs?

Yes, it is possible to refinance your mortgage without paying closing costs upfront. This is known as a no-closing-cost refinance.

In a no-closing-cost refinance, the lender will either charge a slightly higher interest rate or roll the closing costs into the total loan amount. By doing so, you won't have to pay any money out of pocket upfront to cover the closing costs. However, keep in mind that you will end up paying more over the life of the loan due to the higher interest rate or increased loan amount.

Before deciding on a no-closing-cost refinance, it's important to weigh the costs and benefits carefully. You should compare the interest rate and overall cost of the new loan with your current mortgage to see if it makes financial sense in the long run. It's also a good idea to shop around and compare offers from multiple lenders to find the best deal for your situation.

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.