Refinance Calculator - Should I Refinance My Mortgage?
Should you refinance your mortgage?
Whenever interest rates drop, the appeal of refinancing your mortgage grows. But it's important to know the real costs -- and potential savings -- before making a move.
To help, U.S. News has teamed up with HSH.com, a leading publisher of mortgage and consumer loan information, to offer this easy-to-use, interactive refinancing worksheet. Homeowners can see how their existing mortgage payments might change if they were to refinance, and, just as important, how long it would take to recover any closing costs associated with refinancing.
Prepaying: if you want to see the effect of prepayments on a mortgage, we recommend you download
The Home Buyer's Calculator for Windows. It's free, courtesy of Wheatworks Software.
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This worksheet was created by U.S. News in conjunction with HSH Associates.