How and Why to Refinance Your Mortgage: A Step-By-Step Guide – FOX13 Memphis

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Your monthly payment will go 0″> {{ calc_change_in_paymentDisplay }} {{ calc_change_in_paymentDisplay }} per month.

Your new mortgage will be paid off in {{ calc_refi_payoff_year }} instead of {{ calc_current_payoff_year }}. You have If you refinance, you will save {{ calc_change_in_total_interest_costsDisplay }} in interest over the life of the loan compared to what you will pay in interest if you do not refinance.

If you refinance, you will pay {{ calc_change_in_total_interest_costsDisplay }} more in interest over the life of the loan compared to what you will pay in interest if you do not refinance.

Is it worth it to do this refinance?

Clark’s simple rule:
“If you can make back the cost of the refinance in 30 months or less, you should do it.” – learn more about this rule.

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