It depends. If you currently have a fixed mortgage and you refinance to another fixed mortgage with a lower rate you can make the calculations, or I can help you with that.
Let’s say hypothetically you could have saved $50,000 and shaved 6 years off your mortgage by doing a No Cost Refinance and continuing to make the same payment on your new mortgage if you had good credit. But because your credit isn’t good you can only qualify for a “regular” mortgage with say $3,000 for fees folded into your new mortgage. Well, if you think about it, because of the fees you “only” saved $47,000 and you “only” shaved off say 5-1/2 years off your mortgage it’s still a pretty good deal, isn’t it?
If you do go down that path just realize that there is a payback time whereas there is no payback time on a No Cost Refinance. This could be an issue if you intend to sell before you recoup the fees. None of these numbers are subjective because we are talking hard numbers, and everything can be calculated down to the penny. Let me know if you need help.