Where can I find information about break even points? When deciding to refinance it’s always helpful to know if it’s worth it to go through the process and pay all of the closing costs?

As a broker, we can do that for you. We can go over options
to see when you will break even, what the monthly savings and overall interest
savings are, and we can also look at no cost refis. On no cost refis, the rate
is higher, to allow us to cover your closing costs. We run different scenarios
to see what is best for you. Our normal barometer is 24 months. We think if we
you can recoup your costs in under 24 months, that it is worth it.

If you are going from a 30yr to a 15 or 20yr, we look at the
overall savings during the life of the loan. Most times, going to a shorter amortization,
will give you a higher payment, and therefore the 24 month barometer does not

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