Mortgage Refinancing & Equity Calculator
What you can do with this calculator
- Should I refinance?
A calculator can't tell you this, but you we can sure as heckfire help you find if it's financially feasible.
- Estimate the penalty for ending a mortgage term early
The exact pre-payment penalty amount varies from lender to lender. However, the amount can often be estimated by using a well known formula. (i.e., the greater of the IRD or three months interest.)
- Find how changing your mortgage affects interest paid
Change the parameters of your mortgage to increase or decrease payments, shorten your mortgage, or change rates. This calculator will show you difference in interest paid, savings on monthly payments, et al.
- Determine the degree to which debt consolidation helps you
This calculator lets you use equity in your home to consolidate debts into your mortgage, at a lower interest rate.
Brokers Compare Mortgage RatesThink the mortgage rate that your bank offered you looks a little high? You're probably right. Unlike a with a mortgage broker, your bank won't shop around for the best rate on the market. Click or tap on the mortgage rate comparison link below and check out the difference for yourself.