Mortgage rates continue to be low and many homeowners are considering whether they should refinance. It’s not an easy decision. Fortunately, there are some online resources that can help you out.
Bills.com for example, offers a free calculator giving consumers a simple “yes” or “no” answer to the refinance question. Savings through a refinance – in terms of reduced monthly payments or shorter loan terms – depends on the specifics of the original loan and the one being offered… so having an easy visual outline of the pros and cons is a plus.
The calculator asks users to input details about a current loan, home, location and goals for a refinancing. Users don’t however, have to enter information about prospective loan rates or costs – a difference from many other online tools.
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