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Refinancing

Does Refinancing Make Sense for You?

Conventional wisdom used to say that if current mortgage rates are 2% below what you're paying on your existing mortgage, it's time to refinance. But there are other factors you need to take into consideration when deciding if refinancing is worthwhile for you - things like closing costs, points, mortgage term, and how long you expect to own the property.

To find out if refinancing makes sense for you, answer the following questions, then click Submit.


What is the balance of your current mortgage?

$

What will the balance of the new mortgage be?

$

How many years are left on your existing mortgage?


  1. 1
  2. 11
  3. 20
  4. 30
  5. 40

Value:  

What is the interest rate on your current mortgage?

%

What will the interest rate be on your new mortgage?

%

What will be the term of your new mortgage?


  1. 1
  2. 11
  3. 20
  4. 30
  5. 40

Value:  

If your new mortgage has points, enter them here.


What are the total closing costs for obtaining the new mortgage?

$