How To Determine If Refinancing Is Cost Effective

If you’re considering refinancing your mortgage, you need to consider whether it’s a good option for you or not. This will depend on many costs and on how long you plan on living in the home. Here are the costs that are associated with refinancing a home:

  • Origination fee
  • Title search fee and title insurance
  • Taxes
  • A Settlement professional’s fee
  • Appraisal fee
  • State or county tax or transfer fee

These fees can be paid for out of pocket or by the lender. Either way, you are paying more money so it may not be feasible.