Is it Time for You To Refinance?

Those of you who have been following mortgage rates closely have no doubt been excited to see the rates fall steadily over the last several months.
You're probably wondering if it's worth it to refinance your home, and if so, should you do it now or should you risk waiting till it gets just a little lower. We can take your information and let you know what the rates are daily and YOU decide when to lock and close. All information is held in the strictest confidence and privacy. We never sell or rent our customers information to any person or company.		 But what's my rate going to be?
Of course you're curious as to what your personal rate might be, so fill in this form and as a free service to all homeowners, we'll provide you with a no obligation free quote from a lender that suits your financial needs. We show you all of the closing costs and keep them to a minimum. We'll find a lender with the lowest rate and costs for your specific situation. As an independent Broker we can shop and find the lowest rate and costs available at any given time. We are not locked into any specific bank or lender.

Jim Smith #350, Broker
Loans & Investments since 1979

Fill in the form below and find out what rate you qualify for!
We'll e-Mail you back your information.

All information you provide is held in the strictest confidence and privacy. We do not, ever, sell, rent or even show anybody or any company any of our customers or clients information. Besides being unethical, it is unlawful for us to do so.

Then click HERE to try our free Refinance Calculator and
see how much money you could save starting in about 45 days.

FREE QUOTE APPLICATION
Tell us about yourself
 
Are You a Home Owner?
Applicant Name
Co-Applicant Name
Address
City, State ,
* U.S. states only please.
Zip Code
Work Phone
Home Phone

 
*at least one phone number is required.
Tell us about your property
 
   
Property Type
* Sorry, no mobile homes.
Purchase Price
Year Property was Acquired
Present Value of Property
* Property value must be at least $50,000.
Amount Owed on First Mortgage
Current Interest Rate on First
Fixed or Adjustable
Monthly Payment
Second Mortgage Balance (if any)
Current Interest Rate on Second
Fixed or Adjustable (Second)
Monthly Payment (Second)
Tell us about your work
 
   
Current Employer
Years with Current Employer
Yearly Income
How Would You Describe Your Credit?

 
Ever had a bankruptcy or foreclosure? Yes No
If yes, date of bankruptcy or foreclosure
Best Time to Contact You
Tell us about your loan needs
 
   
Type of Loan Desired
Loan Amount Desired
* Loan amount must be at least $25,000.
Email Address
* Must be correct.
Yes, I would like a free customized quote.
Yes, please send me more information.

      

Definitions

Original mortgage amount Original amount of your mortgage.
Appraised value The appraised value of your home when you purchased it.
Current term in years Total length of your current mortgage in years.
Years remaining Number of years remaining on your current mortgage.
Income tax rate Your current income tax rate.
Calculate balance To let the calculator determine your remaining balance, based on your original loan information and years remaining, check this box. To enter your own amount, leave this box unchecked.
Current Appraised value The current appraised value of your home.
Loan balance Balance of your mortgage that will be refinanced.
New interest rate The annual interest rate for the new loan.
New term in years Number of years for your new loan to fully amortize and be paid off..
Loan origination rate This is the percentage of the new mortgage that is paid to the lender as the loan origination fee. Typically this fee is 1% of the loan balance.
Other closing costs Estimate of all other closing costs for this loan. This should include filing fees, appraiser fees and any other misc. fees paid.
Points paid This is the number of points paid to the lender to reduce the interest rate on the mortgage. Each point costs 1% of the new loan amount.
Current payment Your current payment is the sum of principal, interest and PMI. Because refinancing does not affect your insurance or taxes they are not included here.
New payment Your new payment is the sum of principal, interest and PMI.
Monthly PMI payment Monthly cost of Principal Mortgage insurance (PMI). For loans secured with less than 20% down, PMI is estimated at 0.5% of your loan balance each year. Monthly PMI is calculated by multiplying your starting loan balance by this percent and dividing by 12. When your loan balance exceeds 20% of the original purchase price, your PMI payment drops to zero.
Monthly PI payment Monthly principal and interest payment.
Break even monthly payment savings The number of months it will take for your monthly payment reduction to be greater than your closing costs.
Break even PMI & interest savings The number of months it will take for your interest and PMI savings to exceed your and closing costs.
Break even total savings after tax The number of months it will take for your after tax interest and PMI savings to exceed your closing costs.
Break even total savings vs. prepayment This is the most conservative break even measure. It is the number of months it will take for your after tax interest and PMI savings to exceed both your closing costs and any interest savings from prepaying your mortgage. The prepayment amount used in this calculation is the amount that you would have to spend on closing costs.