Can I roll my closing costs into my mortgage refinance in Florida?
Yes. You can roll your closing costs into your new mortgage balance during a refinance in Florida, often resulting in a "no-cost" or "no-out-of-pocket" closing. However, your ability to do this depends on your home’s appraised value and your Loan-to-Value (LTV) ratio. If your home does not appraise high enough to cover the new balance plus the costs, you may be required to pay the difference in cash.
Corporate mortgage mills love to advertise "No Cost Refinances." This is a marketing trick. There is always a cost to originate a mortgage; the "no cost" simply means they are either increasing your interest rate to cover the fees (Yield Spread Premium) or adding the fees to your principal balance. At AAA Capital Funding, Inc., we don't use gimmicks. We show you the exact math of rolling your costs into the loan so you can keep your cash in your pocket while still securing a lower monthly payment.
How "No-Out-Of-Pocket" Refinancing Works
1. Financing the Fees
The most common method is adding the closing costs (title insurance, appraisal, lender fees) directly to your new loan amount. If you owe $300,000 and your costs are $5,000, your new loan becomes $305,000. You write zero checks at closing, and your equity covers the investment.
2. The Lender Credit Option
If you have limited equity and cannot roll the costs into the balance, we can often structure a "Lender Credit." By taking a slightly higher interest rate (still lower than your current rate), the lender pays your closing costs for you. This is ideal for homeowners who want a clean, zero-cost transition.
3. The Appraisal Pivot
In Florida, property values can shift block by block. Rolling in costs requires your home to appraise for enough to stay within LTV limits (typically 80% for Conventional). If the appraisal comes in "short," you lose the ability to roll in costs. We pre-screen your value to prevent this surprise.
Stop Guessing. Keep Your Cash.
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Don't let a $5,000 closing cost estimate stop you from saving $300 a month. We specialize in structuring "No-Out-Of-Pocket" refinances that make sense for your specific financial profile. Whether we roll the costs into the loan or use a lender credit, our goal is to maximize your savings and minimize your friction. Lower rates. Better service. Real results.