View Results

Cash Flow

College

Credit & Debit

Home & Mortgage

Taxation

Insurance

Paycheck & Benefits

Qualified Plans

Retirement

Saving

Investment

Auto

Business

Other

Find Out If Refinancing Saves You Money With Our Refinance Calculators!

¿Debo Refinanciar My Préstamo Hipotecario?

Durante los últimos dos años con tazas de interés más bajas de lo que han estado en 40 años, muchas personas refinanciaron sus préstamos hipotecarios. A pesar de que las tazas de interés han subido gradualmente durante los últimos dos meses, pueda ser que el refinanciar sea conveniente para usted. Utilice éste calculador para analizar su situación.

In addition to a monthly payment breakeven, you may want to analyze the breakeven based strictly on the monthly interest savings realized through refinancing.

Información personal

Información actual del préstamo

Información del préstamo propuesto

Icon of a calculator

Refinance Calculator Example

Embedded Example of this Refinance Calculator

Embedded Example of this Refinance Calculator
Icon of a house

6 Inexpensive Ways to Get Your House Ready to Sell

You may want to convert an adjustable-rate mortgage (ARM) to a fixed-rate loan to gain stability in your monthly payments or in the event that interest rates drop faster than your ARM can accommodate. Many ARMs have caps limiting the amount of periodic adjustments. So, if interest rates drop 3 percentage points in a year but your ARM has a 2 percent annual cap, you may want to refinance to take full advantage of the new, low interest rates.

When interest rates drop, you can refinance to take advantage of the new rates, getting either a new ARM or a fixed-rate mortgage at a lower rate. When you replace an old ARM with a new one, you generally reset your mortgage's lifetime adjustment cap. For instance, if your old mortgage had a lifetime adjustment cap of 6 percent and the initial rate was 10 percent, your mortgage rate could go as high as 16 percent. If you replace your old mortgage with an ARM with a rate of 8 percent and a lifetime adjustment cap of 6 percent, your mortgage interest rate will never go higher than 14 percent.

Click here for full article
Icon of a calculator

Should I Rent or Buy a Home?

Besides the costs of refinancing, you may want to consider other potential disadvantages before signing on the dotted line. For example, if you cash out some of the equity in your home, you will own less of your home when the deal is done. And it may take you longer to own your home free and clear than if you had not refinanced.

Time is also a consideration when it comes to refinancing costs. How long will it take for your new interest savings to pay off the property appraisal, title insurance, and other costs? You may have to live in the house longer than you planned to make the refinance worthwhile. If you move before you have recouped the refinance costs, you will lose money on the deal.

Click here for full article

Definitions

  • Current loan balanceThe amount you currently owe on your existing mortgage.
  • Annual interest rateThe interest rate on your existing mortgage.
  • Number of months remainingThe number of months remaining on your existing mortgage.
  • Annual interest rate on new mortgageThe interest rate you can get on your refinanced mortgage. This should be lower than the interest rate on your existing mortgage.
  • Number of months The number months you will be paying on your refinanced mortgage loan. 30 years = 360 months, 20 years = 240 months, 15 years = 180 months.
  • Loan origination feeThis is a fee charged by the lender to evaluate, prepare and submit your loan. It typically ranges for 0.5% to 2%.
  • Other fees/discount pointsLenders charge various other related fees. Enter any other fees or discount points as a percentage in this field.
  • Other fees Lenders charge various other related fees. Enter any other fees as a monetary amount in this field.
Money Help Center
Esta información puede ayudarle a analizar sus necesidades financieras. Se basa en la información y las suposiciones que usted proporciona sobre sus objetivos, expectativas y situación financiera. De los cálculos no se deduce que la empresa asuma ninguna obligación fiduciaria. Los cálculos proporcionados no deben interpretarse como asesoramiento financiero, jurídico o fiscal. Además, esta información no debe considerarse como la única fuente de información. Esta información procede de fuentes que consideramos confiables, pero no podemos garantizar su exactitud. Las ilustraciones hipotéticas pueden proporcionar información sobre el rendimiento histórico o actual. Los resultados pasados no garantizan ni indican resultados futuros.
Powered By CalcXML Calculators For Websites