Sharla Ellis is a Utah Licensed Mortgage Broker and Branch Manager (NMLS# 209040) who helps Salt Lake County homeowners understand every line item when refinancing. Whether you live in Sandy, Millcreek, or Cottonwood Heights, Sharla breaks down closing costs, lender credits, and "no-cost" myths with calm, 5.0-star guidance.
Sharla Ellis · 6 min read
Closing costs on a refinance are similar to the fees you paid when you purchased the home. In Salt Lake County they generally include the appraisal, title search, escrow services, lender underwriting, recording fees paid to the county, and prepaid items such as property taxes or homeowner's insurance reserves. Sharla walks you through a loan estimate so you can see which fees are fixed, which are optional, and which can be offset with lender credits.
Yes, every refinance involves closing costs because a new loan is being originated. That said, you may not have to bring them to the table in cash. Sharla explains three common approaches: paying costs out of pocket, rolling them into the new loan balance, or using lender credits tied to a slightly higher rate. Together you can decide which option fits your goals, timeline, and break-even expectations.
"No-closing-cost" refinances do exist, but the fees don't disappear—they are paid by a lender credit that raises the interest rate slightly. Sharla models both scenarios so you can compare the monthly payment difference to the upfront savings. In some cases (like short-term ownership or a planned sale) accepting a credit makes sense. In other cases, paying costs up front yields more long-term savings.
Refinance closing costs typically equal a small percentage of the loan amount. The exact figure depends on your loan size, property type, and whether you choose to escrow taxes and insurance. Sharla shows you current title and escrow quotes from local providers, estimates county recording fees, and factors in prepaid taxes so there are no surprises at signing.
Curious which path fits your home? Call Sharla at (801) 580-1861 for a quick closing-cost review tailored to your Salt Lake City property.
You can choose a lender credit that covers the costs, but the credit usually comes with a slightly higher rate. Sharla compares both options so you can decide.
Yes. Every refinance is a brand-new loan, so fees are due again. However, you can pay them with cash, equity, or lender credits.
Each refinance includes closing costs. Sharla helps you plan a break-even timeline so you know how long it will take to recoup them.
Yes, but the structure is flexible. Many homeowners roll them into the loan amount or offset them with credits.
They typically equal a small percentage of the loan amount and vary based on property type, loan size, and prepaid items. Sharla shares localized estimates before you lock a rate.
Select a lender-credit option or negotiate a higher rate that covers the fees. Sharla models the monthly difference so you can make an informed choice.
"Communication throughout the whole refinancing process was on point the whole way till closing and even answering questions after closing."
— Travis A., Salt Lake City refinance client