Mortgage REFINANCE INTEREST
Whether or not it makes sense to refinance your mortgage is a decision best made in consultation with a mortgage professional. Depending on the difference between the mortgage rate you are paying now and a new, current mortgage rate, refinancing could result in significant savings in interest.
Our Mortgage Refinance Calculator is an easy to use planning tool that lets you estimate how much interest you could save by refinancing your current loan. Simply input your original rate, your current amortization, the new rate and amortization, along with any prepayment penalties and closing costs (an Invis mortgage broker can advise on what prepayment penalties, if any, you face, and can determine your closing costs.)
The Mortgage Refinance Calculator lets you see how much you could potentially save on interest with a given refinance scenario. You can also generate a report which details a repayment schedule for before and after a mortgage refinance.
(Hint: You don't have to wait until your mortgage comes up for renewal before you can refinance. An Invis mortgage broker can offer guidance on whether it makes sense for you to refinance your mortgage now.)
Is mortgage refinancing right for you? The Mortgage Refinance Calculator is a good way to start thinking about possible strategies. Turn to an Invis mortgage broker to get the full details on what is involved in refinancing your mortgage, and also how much you could save in interest. He or she can also advise you on current interest rate trends.
