Well, refinancing a mortgage allows a homeowner to trade in their existing loan for a new one with better terms like a lower principal, interest rate, or monthly payment. But there is a cost to refinancing. Here to break down what homeowners can expect to pay, Yahoo Finance personal finance editor Laura Grace Tarpley.So, Laura Grace, what are some of the closing costs that people have to be aware of with refinancing. >> Hi, Julie. Yeah.So, like you just said, when you refinance your mortgage, what you're ac ...

It’s not just the down payment you need to worry about when preparing to buy a house. You also need to factor in closing costs, which typically amount to around 2% to 5% of the home’s purchase price. For instance, the Redfin Monthly Housing Market Data reports a national median sale price of $446,000 for single-family homes as of December 2025. That would range from $8,920 to $22,300 in up-front closing costs. Fortunately, a few of your closing costs may be tax deductible, which could help offset some ...