Mortgage Refinancing  
During the past few years, record numbers of Americans have refinanced their home mortgages as a result of historically low interest rates. This calculator is designed to help you determine whether you should consider refinancing your mortgage.
     

1. What is the principal balance remaining on your current mortgage (from your last statement)?

$

2. What is the annual interest rate on your current mortgage?

%

3. How many years remain on your current mortgage?

4. What will the annual interest rate be on your new mortgage?

%

5. What will the term be (in years) of the new mortgage?

6. What will the loan origination fee and closing costs be (in percentage terms) on the new mortgage? (These are typically charged by the lender to process your loan. 1 point = 1 percent)

%

7. How many discount points (in percentage terms) will you be paying to lower (buy down) the interest rate?

%

8. What other fixed costs (in dollar terms) are there? (such as an appraisal)

$
 
   
   
Thomas A. Newman & Associates
1022 W North Blvd • Leesburg, FL • 34748
Phone: 352-728-1122 or 1-800-728-5088 • Fax: 352-728-1217
• pwatson@woodburyfinancial.net

*Securities and Advisory Services offered through Woodbury Financial Services, Inc. Members of FINRA/SIPC and Registered Investment Advisor. “Newman and Associates, PA”  and Woodbury Financial Services Inc., are not affiliated entities.This communication may not be construed as a solicitation to buy or sell any security. Investment in any security involves risk, including the possible loss of principal. Information relating to securities is intended for use by individuals residing in Connecticut, Florida, Georgia, North Carolina, Ohio and and Pennslyvania only.

 
 

 

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