Refinance Mortgage rate Calculator is designed to help you determine if refinancing your primary home mortgage makes sense financially
Cost of Refinance Mortgage rate
- Origination fee? Essentially every mortgage charges an upfront origination fee equal to 1% of the mortgage amount
- Points? Most mortgages charge points, with each point equal to 1% of the mortgage amount
- Appraisal? Most mortgage companies require a new appraisal of the house
- Attorney's fees
Arguments used in Refinance Mortgage rate calculator
- Lost Investment Return result is a calculation based on any cash you would put toward fees and the predicted investment return you would have earned on that cash
- Breakeven Point (Months) is a determination of how long your savings will take to make up the cash you put toward the refinance