Refinance mortgage, and what Ive learned
You will be responsible for all fees for titling, preparation of documents, lawyer costs, etc. , just like you were when you received the original mortgage. A good number of mortgage holders who have currently decided to refinance, are doing it because the rates are so much better now than when they obtained their current home loans. If you are debating whether to refinance, first compute the cost difference between the old mortgage rate and the refinance interest rate through the term of the loan. Then, compute the cost of the fees and expenses incurred by applying for and obtaining the new mortgage.