Though it may seem a bit counterproductive to have to pay money in order to receive money, you will need to be prepared to pay closing costs when asking for a refinance with bad credit.
There will be other costs that you will need to be prepared for as well, including a professional appraisal of your home in order to document its current market value as opposed to the amount of money that you currently owe on it.
Many lenders want to see some degree of appreciation and an effort on your part to remain stable with payments for at least six months before considering you for a refinance with bad credit, so be prepared to start early and work hard.
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