Why You Shouldn't Roll Closing Costs Into Your Mortgage

Why You Shouldn't Roll Closing Costs Into Your Mortgage

When you get a new mortgage or a refinance loan, you'll usually need to pay closing costs. This may sound like an attractive option since you don't need to come up with several thousand dollars to close on a refinance loan. When you roll your closing costs into your mortgage refinance loan, you'll have to pay interest on that money the entire time you're paying off your home loan.