SHOULD I REFINANCE MY MORTGAGE?
Are you thinking about refinancing your home? Our easy-to-use mortgage refinance calculator can help you decide whether refinancing could be a good option.
How Do I Use a Mortgage Payment Calculator?
Simply enter your current loan details into our mortgage refinancing calculator and the projected details of your new loan. Our refi calculator will estimate how much money you could save each month and what your new monthly payment could look like.
With our advanced refinance mortgage calculator, you can:
When you’re deciding whether you should refinance, you have to consider your financial goals. There are several potential benefits to refinancing, which include:
- Lower your monthly payment
- Lower your interest rate
- Shorten your loan term
- Get cash back
- Eliminate private mortgage insurance
To estimate your new loan payment, enter today’s current mortgage rate into our refinancing calculator. If you decide to refinance your loan, your mortgage interest rate will be based on your credit profile. If your credit score has improved since your first mortgage, you may qualify for a lower interest rate now.
Calculator results are based on the information you provide and are for estimation purposes only.
DISCLOSURE: The Mortgage Calculator is provided as an estimation tool solely for your convenience when you are considering obtaining financing for a home. Results are based on user inputs and loan assumptions above, are not a commitment to lend, prequalification or preapproval, and should not be relied upon as financial advice of any kind. Changes in borrower credit, financial situation, debt, down payment, loan program, location of the property, available rates, etc. may affect estimated payments and ratios. Use this tool as a place to start, then contact us for more information about your particular situation as well as actual rates, loan programs, home prices, and payments you wish to discuss.