Mortgage Refinance Timing Secrets Top Financial Experts Reveal
Cost-Benefit Analysis
Refinancing isn’t free; there are closing costs to consider, which typically range from 2% to 5% of the loan amount3. Conduct a cost-benefit analysis to determine if the long-term savings from a lower interest rate outweigh the upfront costs. Tools such as online mortgage calculators can help you project your potential savings and break-even point.