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Updated about 2 years ago on . Most recent reply

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Jackie Nguyen
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Cash out refinance

Jackie Nguyen
Posted

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!

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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
Replied

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

  • Robin Simon
  • [email protected]
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