Refi Primary Mortgage - Closing Cost Are High

[Jackie F.]

Hi BP,

I would like to refi my primary residence which has an 70% LTV. I want to lower my rate on a 30 yr fixed. I don't want to cash out. So far, all estimates have me paying 2-3% closing cost.

What gives? I thought I would be able to close fairly cheaply in a refi like this.

The principal owed us about 300k.