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Updated about 2 years ago on . Most recent reply

Cash out refinance
Can you roll your cash out refinance closing costs into your new loan? So say i bought a house for $200k, payed it off to $130k. And i got and refinance it to the new amount of let’s say $250k. That’s $100k-ish i can cash out. Can i use part of that to pay for the closing costs? Or do i pay closing costs first to receive said money.
this is just an example, thank you in advanced!
Most Popular Reply

Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
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Yes, its all rolled up into one settlement statement, so the closings costs will be deducted from the cash-out amount, but the cash-out proceeds absolutely can be used to cover the closing costs