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Refinance Calculator
Should you refinance your mortgage? See your break-even point and total savings.
Refinancing makes sense when
- Rates dropped 0.5%+ from your current rate
- You will stay in the home 3+ more years
- Your credit score has improved significantly
- You want to switch from ARM to fixed rate
- You want to shorten your loan term
Skip refinancing when
- You are moving within 2 years
- You are late in your mortgage (mostly paying principal)
- Closing costs push break-even past 4 years
- Your credit score has dropped since original loan
- You would extend your payoff date significantly
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Recommended Products
Useful products that complement this calculator. Prices shown on Amazon in your local currency.
Financial Planning
JUBTIC Budget Planner & Monthly Budget Book
Track your new mortgage payments and savings after refinancing. 12-month planner with expense tracking and financial goals.
Check Price on Amazon
Home Inspection
General Tools MMD4E Digital Moisture Meter
Check your home’s condition before refinancing or listing. Bestselling moisture detector with LCD display and audible alerts.
Check Price on Amazon
Document Storage
SanDisk 128GB Ultra Fit USB 3.1 Flash Drive
Securely store mortgage documents, tax records, and financial statements. Ultra-compact 128GB USB 3.1 with fast transfer speeds.
Check Price on Amazon
As an Amazon Associate, BuyDecide earns from qualifying purchases. Prices may vary.
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