You can avail a bad credit for any purpose. The loan amount is large and is repaid over a ...A bad credit home loan is usually secured against the house that is being bought. There are bad credit home loans if you wish to buy a house. Having said that, the total expense of a refinance mortgage loan depends on all those factors - interest rate, number of points, 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.
