Data Reports
2026 Refinance Mortgage Closing Cost Data Report
05.11.2026
Community
Conshohocken, Pa., May 11, 2026 – LodeStar Software Solutions, a leading provider of nationwide mortgage closing cost data, today released its second refinance mortgage closing cost data report, which showed that the national average total closing costs for a refinance mortgage transaction were $2,207. This amount consists of a national average of 0.67% of the refinance loan amount.
Key Takeaways
- Closing costs as a percentage of sales price hovers around 0.3% to 2%, with an average percentage of 0.67% and a median of 0.65%. Just like in 2025, New York leads the pack at a whopping 2.06%% of the refinance loan amount.
- When expressed as a percentage of the sales price, closing costs are lowest in states without transfer taxes, or with minimal transfer taxes.
- Conversely, the highest closing costs (expressed as a percentage of sales price) tend to occur in states where the transfer taxes make up a bulk of the overhead. New York, Florida, Oklahoma, Pennsylvania, and Texas are great examples of this.
- The states with the lowest closing costs in comparison to the refinance loan amount were California (0.32%), South Dakota (0.35%), and Arizona (0.37%).
- The national average and median home refinance loan amounts are $330,622 and $330,646, respectively.
- The national average and median total closing costs (w/ recording and taxes) are $2,207 and $1,807, respectively.
- The national average and median total closing costs (w/out recording and taxes) are $1,686 and $1,553, respectively.
“The state-by-state ranking largely aligns with what industry participants would expect,” said Ron Carvalho, LodeStar’s Director of Data. “New York, Florida, and Maryland appearing at the top is not surprising, as refinance closing costs are heavily influenced by each state’s mortgage taxes, recording, and related fee structure. New York stands out in particular, with average total refinance closing costs of $10,553, representing 2.06% of the average refinance loan amount. That percentage is more than double most other states in the report, with only a couple exceptions, including Florida at 1.36%.”
Additionally, Ron commented that, “One of the more notable takeaways is the close alignment between the national average and median refinance loan amounts, which suggests that the loan-size distribution is not being materially distorted by large outliers. At the same time, average closing costs are meaningfully higher than median closing costs, specifically when recording fees and taxes included. That spread indicates that while refinance loan amounts are relatively consistent, closing costs are more top-heavy. In particular, the larger gap when recording and taxes are included suggests that tax and fee structures in higher-cost states are contributing disproportionately to the national average.”
On April 27, 2026, LodeStar released a corresponding Purchase Mortgage Closing Cost Report.
Source for all tables: LodeStar Software Solutions, 2026
Methodology
LodeStar defines average closing costs as the average fees, recordation charges, and transfer taxes required to close a typical refinance transaction in a geographical area, in addition to the following service types: settlement/closing/escrow fees, and lender’s title policies.
The actual closing fees from a sample of 202,059 refinance quotes, from January 1 through December 31, 2025, were analyzed. Loan amounts over $10 million were not considered.
LodeStar calculates the percentage of the loan amount as the average total closing costs with recording fees & taxes included divided by the average loan amount in a given geographical area.
About LodeStar
Mortgage closing costs are all LodeStar does. From statewide transfer taxes to granular township-level fees, LodeStar makes sure your closing costs are spot-on for every disclosure.
Above all else, LodeStar’s core values are providing CLARITY, COMMUNITY, and CONNECTIVITY throughout the mortgage industry.
With the arrival of TRID, co-founders Jim Paolino and David Spektor saw a need for specialists. Managing closing costs might seem like something simple and easy that you can handle in-house. But as many lenders have learned, the world of closing cost disclosure comes with tons of risk: expensive tolerance cures, frustrating LO errors, and the list goes on. LodeStar acts as your partner in fee management, so you can have one less thing to worry about along the road to close.
Media Contact Info
Tim Austen
Marketing Content Manager
tausten@lssoftwaresolutions.com
Contributors
Jim Mark, Quality Control Manager
Ron Carvalho, Director of Data Operations
Tim Austen, Marketing Content Manager
Alayna Gardner, Director of Revenue
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