| Is Your Home Refinance Worth the Money?
If you have questions on this issue, please feel free to contact our firm's offices at 714.937.6337. If you prefer, we can be reached via e-mail at info@talleynco.com. ARTICLE TAKEN FROM AUGUST 2003 ISSUE OF PROFIT ABILITY ( VIEW NEWSLETTER | SUBSCRIBE ) |
Since we are always on watch for ways to arm our
clients with information to handle their personal
finances more adroitly, we thought this chart would
be of value. The chart lays out how long it will take
for you to recover the up front costs of refinancing
your loan. To use the chart, total the costs of obtaining
your loan and figure out your percentage equivalent.
Then, take the interest difference between
your new and old loans. Take those two numbers,
find their respective columns/rows, and at their
intersection you will find the number of months it
will take you to recoup your mortgage fees.