Mortgage Refinance Calculator

If we were to calculate all our payments made to our home mortgage all these years, we will know that we are paying too much on the interest and not to the home itself. If we can payoff our mortgage right away, we would do that but sadly, we do not have the funds to pay it all at once so we opt to pay it monthly which most people do.

However, you as a home owner and would like to know the savings from payments you made or just want to know exactly how much should you pay, you can very well use the mortgage refinance calculator for free. If one should decide to get a mortgage refinance, he should know if it makes sense or it is better to start making prepayments on his or her current mortgage loan. On the website, there are 13 easy steps or instructions to follow for refinance savings.

Anyway, he can always go to the link above and calculate cumulative savings by year for refinancing vs prepayment. He or she should be able to see how long before monthly payment savings kick in from a refinance. With the help of this calculator, a home owner can also review the total savings after taxes and the total savings compared to prepayment. Review a monthly payment breakdown of PMI, principal and interest for his/her current mortgage compared to a new loan. The information interactive calculators are only available to you as self-help tools for independent use though and are not intended to provide investment advice. Should you need personalized advice, I suggest you go qualified professionals regarding mortgages or other personal finance issues.

For people who are looking forward to buying their home, here is a helpful website, a government website actually that they can go to for some information on mortgage programs and resources to get and manage a mortgage. If they have questions need answers, they can easily contact their government through emails, chat or phone.

As for us here, we just paid off our mortgage and I am glad we did because it puts our mind at ease knowing that we can have extra money left in our paycheck for we don't have to do the payment every month anymore. We have struggled for so long just to keep up with our bills as well as house payments and now we deserve to be freed from heavy financial burden. Thank God for this!