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Mortgage Rates
30 yr fixed: 5.77%
15 yr fixed: 5.15%
1 yr adj: 3.97%
Refinance Calculator

Original Loan Information:
Enter your original loan amount: $
Enter your original term:
years
Enter the number of months already paid: months
Enter your current interest rate: %
Enter the number of years you plan to sell in: years

New Loan Information:
Enter any loan points you plan to purchase:
 %
Enter your interest rate:
%
Enter the term of your refinanced loan: years
Enter the closing costs required for refinancing: $


Refinancing : When is the right time to refinance?

Refinancing is the process by which an old loan is replaced by a new one. The term of the loan may change, for example, from 15 to 30 years. The rate of interest may also decrease or change from fixed to variable or vice versa.

The refinanced loan can also be for a larger amount. This scenario is what is called a "Cash Out" refinance. If you need cash for home repairs or other expenses, this is typically a great way to conveniently roll the extra debt in with your mortgage payments.

Knowing if it is the right time to refinance depends on multiple factors. First of all, how much rates have dropped if any. Drops in interest rates usually signal that refinancing is something to consider. However, If you have made improvements in your credit since acquiring your loan, even without rate drops you may qualify for a lower interest rate.

In general, given a proposed new interest rate on your loan, knowing if it is the right time to refinance depends upon your break-even date. The break-even date is the day on which refinancing would pay for itself. In other words, on your break-even date you have recouped all of the fees for refinancing and every month after you save money. This brings about an important question of how long you plan to stay in your home. If you plan to stay in your home at least as long as the break-even date, you will save money by refinancing in the long run.

This calculator is intended for educational use only and does not provide you with a quote. To truly know if it is the right time to refinance you should speak with a lending professional. Our site has a network of lenders licensed in all 50 states and they can provide you with competitive no obligation quotes on your refinance. Click here to apply online and get the process started.

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   Need Cash? Considering a Home Equity Loan? Why not get cash out from your equity and refinance in one process. Select 'Refinance' on the application and specify your 'Cash-Out'.
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Home Equity Loans
Taking out home equity loans now at these low interest rates can save you thousands over the life of your loan. When you apply we will perform a free search of our database of lenders to find you the best price.

Refinancing
If you haven't recently refinanced or your credit has improved, you might be able to get a better rate on your current home loan. We offer a no obligation evaluation of your finances to see if now is a right time refinancing your home loan. We also offer a free refinancing calculator with break even date analysis.

Home Loans
Home loans have never been simpler than through LendingExpo. We offer free mortgage amortization calculators and up to four competitive no obligation interest rate quotes. Applying is easy and many of our lenders have special first time home buyer programs.

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• Home Equity Loans • Mortgage Refinancing • Home Loans
Need money to finance college or make home improvements? Home equity loans do not have to put your home at risk and they can offer significantly better interest rates than other forms of loans. Some home equity loans even have tax deductible interest payments... Mortgage refinancing is simply the process of replacing your current loan with a new loan at a lower interest rate. Refinancing has been all the craze in the past five years. But even those who refinanced as a short as three years ago are finding they can save more by refinancing yet again... Wondering how much home you can afford? We explain how lenders evaluate your spending power and provide you with up to four home loans quote. You can also instantly estimate your monthly home loan payments online using our free calculators...
• FHA Home Loans • Student Loan Refinancing • First Time Home Buyer
Want to make a smaller down payment? FHA home loans are geared towards buyers who do not have the capital to make a traditionally large down payment on a new home loan. Qualifying is generally easy for most applicants... Graduates this year can undoubtedly find lower interest rates on their student loans, refinancing is the means to take advantage of them. Get a free no obligation quote and start saving today...

First time home buyer programs can offer a break for many individuals who need help coming up with down payment money or simply home home buyers with good credit deserving of a lower interest rate. Many of our lenders offer these programs and are happy to see if you qualify...
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