Monthly costs

Closing costs

Also known as: refinance fees, origination fees, settlement costs

Fees paid to complete a loan or refinance (title, appraisal, origination, and similar).

Closing costs are the fees and charges paid when you close on a purchase or refinance. They often include lender origination, appraisal, title, and recording fees. On a refinance you may pay them in cash at closing or roll them into the new loan balance, which increases the principal. Closing costs affect break-even time when you compare payment savings to cash spent upfront.

See also