Mortgage clients refinance their mortgage various reason.
They may want to lower their interest rate or loan term – That can save you thousands of dollars over the life of the loan.
Others may use the equity from their home for home improvement project, consolidate debt or to pay for school tuition.
There are usually some costs associated with a refinance. This calculator can help illustrate the costs and benefits and just how long it’ll take before you break even.
Calculate the number of months to break-even if you refinance the loan.