Articles tagged “closing costs”

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Mortgage Intelligence Blog

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Showing 3 articles tagged with “closing costs”.

Expect closing costs between 2% and 5% of the purchase price, with transfer taxes driving the biggest regional swings.
States like New York, New Jersey, and Florida have unique doc stamps or mansion taxes that add thousands to the final figure.
Negotiate for seller credits or lender credits to offset costs without depleting your cash reserves.

June 18, 2025 9 minute read

Follow this 2025 refinance playbook to evaluate current rates, breakeven costs, and strategies after the recent mortgage rate spike.

Determine your break-even point by dividing total closing costs by the monthly payment reduction.
Explore combination strategies such as refinancing into a shorter term while eliminating PMI.
Rate-and-term refinances typically require 20% equity, but streamlined FHA and VA options can work with less.

April 22, 2025 9 minute read

Learn how mortgage discount points work in 2025, how to calculate break-even periods, and when buying points maximizes payment savings.

One point equals 1% of the loan amount and typically lowers the interest rate by 0.125% to 0.25%.
Calculate break-even in months by dividing the cost of points by the monthly payment savings.
Buying points makes the most sense when you expect to keep the mortgage beyond the break-even point and have emergency savings intact.