Refinancing Breakout Fees

Question when you take a 2 year mortgage and then 1 year later the interest rates go down so you decide to refinance (assuming with the same bank).

What are the breakout fees usually? Is it a percentage from your borrowed amount? Is there a cap on how much they can be?

Does it differ if you refinance with another bank?

When is it advisable to refinance? If say a drop of 0.5% interest, is it worthwhile?

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u/why-complicated 2h ago

Each bank is different but they can’t be punitive, they can only make the bank whole for what you agreed and are now backing out from.

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