Learn the Right Way to Use a Mortgage Refinancing Calculator

 
When using a mortgage refinancing calculator you should always follow these simple steps first before using these superb calculators. They are basic, but necessary!

1. Gather all your needed information to input into a mortgage refinancing calculator. This will include:  

• Balance of your existing mortgage.
  
• Your current mortgage rate.
  
• How many years left on your current mortgage.
  
• Decide how long you plan on remaining in your home.
  
  Your estimated closing cost to refinance (you can look at your old cost statement when you originally purchased your home).

• how much money you save from refinancing
• How long it will take for you to breakeven if you were to refinance your existing loan

A mortgage refinancing calculator can be your best asset when choosing to refinance. It will tell you exactly what to do. The numbers don't lie. Listen to what they say!