Should I refinance my $193,000 mortgage?

Does it make sense to refinance a $193,000 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.

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When do I refinance my 193k 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 opportunity costs.

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.