Does it make sense to refinance a $118,000 loan? If interest rates are much lower
than your rate, it might be a good idea to refinance. If you hold the loan long enough
to cover the fees, it will probably save money to refinance. However, every
situation is different, so speak with a mortgage broker.
Current Loan Details
New Loan Details
When do I refinance my 118k home loan? What are the current refinance rates? How much will
I save? This calculator determines
how much you might save by refinancing. It doesn't consider taxes or
In general, it probably makes sense to refinance if the rate that you pay is much higher
than current interest rates, and you plan to hold the loan for a long time.