Should I refinance my mortgage?
If interest rates are low or you can decrease your loan term, refinancing your mortgage could save a lot of money. Crunch the numbers to see the potential impact of changing your interest rate or loan term on your mortgage payments.
You’ll be able to compare traditional and enhanced refinance options with this calculator. The traditional refinance option provides estimated payments for your new loan. Based on your new loan term, this option may show the loan being paid off at a later date than your current mortgage. With an enhanced refinance, you’ll see estimated payments if you would like to pay off the new loan when your existing mortgage term would have ended.
While this calculator can help you understand how much you might save by refinancing, all numbers provided here are estimates. Please talk to a Mortgage Loan Officer about what your actual savings may be.
This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.