There are always closing cost,points and fees for refinance of any mortgage loans. Most of these cost would depend on your credit score and the type mortgage loan you apply for and get approved for.
There are too many variables to go into each and every cost involved in a refinance. Then you would also have to have the equity in the property you would want to refinance.
A list of a few of the cost involved in a refinance are
#1. Escrow fees
#2. Title report fees
#3. Points and fees to the mortgage broker/banker (points are percentage of the loan amount)
#4. Possible fees to the lender (normally less that $1000)
Your current interest rate is high according to today's interest rate. If you can lower your interest rate by more than 1.5% or lower this might be a good time to refinance.
You should contact a local mortgage banker/broker to complete a mortgage loan application and get approved for a refinance.
You will be required to have proof of income with w-2 for the past 2 years as well as proof of all bank accounts for
the past 3-6 months, 2 years of federal income taxes and other items that your mortgage broker will inform you of when needed.
This mortgage broker will, once an application is taken and signed run a credit report on you to see what mortgage loan programs you are qualified for. Within 3 days of you signing your mortgage loan application your mortgage broker should issue you a Good Faith Estimate (GFE) as well as a Truth In Lending documents. Between these two documents you would know the cost of the mortgage loan, interest rate, who is being paid what and how much.
Once you are approved for several mortgage loan programs your options would be explained to you. You would be told the interest rate you are approved for, if you are approved for a 30,15 or 20 year mortgage loan and other important things you need to know about the mortgage loans you are approved for.
Make sure all options available to you are explained to you. With everything explained to you, you are now in a position to make an intelligent decision.
I hope this has been of some benefit to you, good luck.