Refi Breakeven Point: How to Calculate Yours
A mortgage refinance takes money in the form of closing costs, so when does the saving start?
The saying goes, "It costs money to make money." This is true with refinance loans. Although securing a lower interest rate will definitely save you money, you have to pay closing costs to set up the loan. Whether you pay them up front (recommended) or roll them into the loan balance, closing costs represent real money you have to pay—jus...