My rants about refinance
You will also be responsible for the same type of closing costs: loan application fees, an update and review of the title to your home, the title insurance premium, home appraisal and document preparation fees, attorney fees, and the mortgage tax, recording and filing fees imposed by your county clerk, not to mention attorneys fees. Your lender will hire its own attorney for the transaction even if you do not, and it will pass the fees on to you. All these costs can either be paid up front or added onto the amount of your mortgage. Either way, you will not start realizing true savings on your monthly expenses until you have paid yourself back the aggregate amount of these costs. Consider, too, whether you want mortgage refinancing to work to lower your monthly payment by reducing interest or to raise your monthly payment to pay principal down quicker.