Absolutely.

While many homeowners choose to finance their refinance closing costs by adding them to the new loan balance, that isn’t your only option. You can also pay some or all of your closing costs out of pocket if you prefer.

Paying closing costs yourself may help you:

• Keep your new loan balance lower
• Build equity faster
• Reduce the amount of interest you’ll pay over the life of the loan
• Potentially lower your monthly mortgage payment

If you decide to bring funds to closing, your lender will simply need to verify that you have sufficient assets available. This usually means providing recent bank statements or other documentation showing the funds are available before closing.

We’ll prepare your refinance options both ways—financing the costs into the loan and paying them separately—so you can compare the numbers and choose the option that best fits your financial goals.

To learn more about refinances, visit the Refinance page.