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A true no-cost refinance means you pay no money upfront and neither your loan amount nor your interest rate is increased to build any costs into your new loan. To calculate a break-even point, divide the anticipated total cost of your refinance by the monthly savings on your loan payment.
The fee paid by a borrower to a syndicate of banks for making a loan. The fee is often tiered, with the agent bank receiving a larger amount as a consideration for structuring the loan and/or underwriting larger amounts and thereby assuming greater risk.Upfront fees paid to syndicate members are almost always a function of commitment size.Sometimes upfront fees will be structured as a percentage of the sum committed to the loan plus a flat fee. For instance, an upfront fee of 100 basis points plus $50,000 flat fee.The flat fee is fixed, but the balance of the total fee is a percentage of the bank's ultimate allocation after the loan is syndicated.If a bank commits $100 million to a $1 billion credit but $2 billion is received in commitments the bank's final allocation may be only $50 million.he flat fee is fixed, but the balance of the total fee is a percentage of the bank's ultimate allocation after the loan is syndicated. If a bank commits $100 million to a $1 billion credit but $2 billion is received in commitments the bank's final allocation may be only $50 million.