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What is the mathematical formula to calculate/determine suitability of mortgage refinancing options?

April 26, 2017Business CALCULATE determine Finance Formula mathematical mortgage refinancing suitability

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What is the mathematical formula to calculate/determine suitability of mortgage refinancing options?

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No formula exists. Simple rule of thumb is whether or not the cost of refinancing can be recouped within a reasonable period of time. For me, 15 months is the payback.