Compare your current mortgage with a new fixed-rate offer. Review monthly payments, remaining interest, and the time until payoff before refinancing.
Weigh closing costs and how long any payment savings would take to recover them. A longer term may lower your payment while adding years and interest.
Compare principal and interest payments, the interest left on your current loan, and total interest on a new loan. Include property taxes, insurance, and other expenses to review ongoing monthly costs.
Save your current loan and new offers with notes and photos. Explore extra principal as another path to reducing interest. Extra payments generally do not lower required payments without a recast or refinance; confirm with your lender.
Save up to three plans with free iCloud sync. Pro adds Shared Costs and unlimited saved plans, extra payments, and expenses. Calculations work offline without an account. Confirm estimated terms, fees, and payments with your lender.