Mortgage Refinancing: What Is It And How Does It Work?
Savings Corner
APRIL 4, 2024
To refinance a mortgage, you’ll pay between 2 and 5 percent of the loan amount in closing costs, so if you’re refinancing to save money, you’ll need to calculate your break-even point. Your goal might be to adopt a shorter loan term, or maybe your focus is to lower monthly payments. Here’s a breakdown of each.
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