Mortgage Calculator - "true cost" calculator powered by Fannie Mae
SHOULD YOU REFINANCE?
With interest rates as low as they are, it is a good idea to reassess your current mortgage to see if you can save yourself money. Often it is a sound financial choice that may allow you to:
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reduce monthly payments
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save money over the life of the loan
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reduce term and pay off mortgage in a shorter time
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switch from an adjustable rate to a low fixed rate
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eliminate the need for private mortgage insurance (PMI)
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free up cash to spend as you wish
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consolidate debt
