New London Day - ... Most of those loans were for relatively small amounts, either to refinance an existing loan or to buy ... broker with McCue Mortgage in New London, one ... taking out a subprime loan, which was intended for high-risk borrowers who either had bad credit ... Having said that, the total expense of a refinance mortgage loan depends on all those factors - interest rate, number of , and other costs. Lenders will charge several points in order to offer you the lowest rates. With these, the total cost can run between three and six percent of the total amount you borrow. So, for instance, you borrowed $100,000 on a refinance mortgage loan.
