• We now offer a 40-year loan with the first 10 years as interest only, enjoy a low monthly mortgage payment!!!
(800) 535-0270
Select Page

Usually, people refinance to save money, either by obtaining a lower interest rate or by reducing the term of the loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts. The decision to refinance can be difficult since there are several reasons to refinance.

However, if you are looking to save money, try this calculation:

Calculate the total cost of the refinance
Calculate the monthly savings
Divide the total cost of the refinance

(#1) by the monthly savings (#2). This is the “break even” time. If you own the house longer than this, you will save money by refinancing.

Since refinancing is a complex topic, contact us for more information.

Contact us today for a FREE consultation at (800) 535-0270 or email us here.

© 2019 www.mortgagedepot.com. All Rights Reserved.
Licensed By The Following State Regulatory Agencies:
New York State Department Of Financial Services
Florida Office Of Financial Regulation.
Website Authorization By The New York State Department Of Financial Services Is Approved.
*Registered Mortgage Broker — New York State Department Of Financial Services – All Mortgage Loans Are Arranged Through Third (3rd) Party Providers’ NMLS # 1133788