Home › Forums › Financial Markets/Economics › On a refinance with closing costs, would you just add it to your loan balance or not? › Comparing the payment savings
Comparing the payment savings is not the correct way to decide on the benefit of ANY refi, but it’s what most people do.
Did you get their quote for 3.00% ? It may not make sense to take the lower rate with a cost. The recovery period could easily be 7-10 years.
In the long you will always save more money at the lower interest rate.
