The "origination fee" has nothing to do with your interest payment. Lets
say you borrow $100,000 for thirty years. The 1% origination fee is
$1000. The interest charges for the thirty year term will be something
in the order of $75,000 to $90,000.

You will also be amazed at the number of bloodsuckers that show up as
"closing costs" on your new refinance.

HTH,
EJ in NJ

AE Todd wrote:
I assumed that the charge for the loan is the interest that I am
paying for the next 30 years...I am refinancing to take advantage of a
lower rate, if they in fact do go down.