Question by ColdDuck: Refinancing a mortgage, What should I know?
Best answer:
Answer by MinPins
Don’t do it unless you are saving at least one point. figure closing costs and fees into the refinance and you might not save much unless it is at least one point less. Other than that, go for it.
Know better? Leave your own answer in the comments!
Before you do it, make sure you understand what it will cost and how soon you’ll recapture that cost. Then ask yourself if you intend to keep the home long enough to make it pay.
http://www.mortgage-x.com has tons of info. There is too much info to list as each person’s goals and scenarios are different so I would check that out.