LYCOS RETRIEVER 
Refinancing: Costs
built 644 days ago
To determine if it is worthwhile to refinancing loan, you should work out the total refinancing mortgages costs and respond to the question that may enable you to make a decision: How long would it take to break-even? You ought to think about loan financing in the event that you plan to stay in your house for longer than it takes in order to break-even.
Source:
The first step toward refinancing is research. Don't just look at how much the 30-year fixed rate has dropped and think your work is done. Because rates vary from one region to the next, you'll want to search online to find out what is competitive in your region, noting how different terms affect rates and what kinds of closing costs are attached.
Source:
One of the major decisions in refinancing is the cost. Know the cost and do the sums; when you refinance, be prepared for the fact that it nearly always costs you money at the start - to exit your current loan and set up a new one. Costs can range from minimal to thousands of dollars, depending on the circumstances surrounding you change.
Source:
MORE ABOUT
Costs