Even though this means a lower monthly payment, the total amount you pay in interest over the entire duration of your loan will likely be more. (lendkey.com)
Most homeowners see refinancing as a way to secure a lower interest rate, which leads to smaller monthly mortgage payments and decreases the final amount paid in interest. (valuepenguin.com)
After those initial few months, the cost of the balance transfer will usually be less than the total amount paid in interest. (valuepenguin.com)