How to Refinance With Low Closing Costs

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    • 1). Apply for a mortgage refinance with your current lender. Fill out a mortgage loan application and provide the lender with two months' pay stubs, two months' bank statements, and two years' tax returns. Request a Good Faith Estimate for the mortgage loan. Your current mortgage lender should be able to waive certain fees to retain your business.

    • 2). Apply with two other lenders as well. Ask for Good Faith Estimates on their mortgage loan options.

    • 3). Compare all three Good Faith Estimates. Find the lowest overall estimate and ask your lender to beat that offer with lower closing costs, if applicable.

    • 4). Consider asking your lender to waive closing costs by raising the interest rate. Mortgage lenders are paid by a combination of rate and closing costs. The higher the rate, the more profit to cover the closing costs.

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