There are a number of questions to ask yourself if you are considering refinancing your mortgage.

Use a Calculator

To find out if refinancing makes sense for you, use this calculator. Based on your current mortgage situation and interest rate, you can see if refinancing will save you money and/or how long it will take to recover the closing costs.


Benefit vs Cost comparison on hand
Benefit vs Cost comparison on hand

There are many potential benefits to refinancing, including:

In fact, several years ago the National Bureau of Economic Research found that homeowners were losing billions of dollars in possible savings by not refinancing.

Take the time to thoroughly investigate your options about refinancing your home. Even if the time is not right yet, at least you will know what to do to prepare. Maybe you need to repair your credit or pay down some of your mortgage. Either way, knowledge is power when it comes to making decisions about mortgage refinancing.

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