Mortgage Refinance Calculator

Maybe it's time to consider a new loan for your current home

You've probably received offers from lenders who claim that refinancing your mortgage can reduce your interest charges or monthly payments. That may be true. But there are a lot of details to consider before making a decision. Refinancing often makes sense if interest rates have dropped. You may also be able to pay off your mortgage earlier or take cash out. There are several factors to consider, including your current interest rate,  the new potential rate, closing costs and how long you plan to stay in your home. Plug these numbers into this calculator to see if refinancing makes sense for you.