Call (866) 737-7706 to talk to us now.
Register
Get Started Now!
 
Advice & Calculator
All Calculators
Refinance Loan Payment Calculator

This mortgage calculator helps determine your monthly payments for a refinance loan.

Powered by Loans
View All Calculators
Why MortgageLoan Corp.?

With every client, every single time, we aim to make this your best mortgage experience ever. How do....

See More>>
Refinance Calculators

Try our free refinance calculators today:

Refinance Loan Payment Calculator

This mortgage calculator helps determine your monthly payments for a refinance loan.

Mortgage Payment Calculator

Determine if payment refinancing or a home equity loan is better for you.

Advice & Calculator
Refinance Advice

 

Refinance Advice

 

Guide to Refinancing Your Home Loan

How to refinance into a better mortgage without wasting time or money:

 

Step 1: Check your credit score. It's importan to know what your credit score is since that defines a large part of the qualification process. Your credit score will signal what rates, programs, terms, and cost structures you may qualify for.

 

Step 2: Find the right refinance loan for your needs. Evaluate your loan options. This means you should look at all loan programs, all available rates, and all terms offered. Evaluate your current financial position and match it to your mortgage. For example, if you are planning on selling your home in 3 years, then a 30-Year fixed mortgage may not be the best option. Rather, you may want to consider a 5-Year ARM or a 7-Year ARM, and obtain a lower rate by doing so (in most cases at least).

 

Step 3: Compare refinance offers and perform break-even analysis. While comparing all of your loan options, perform a break-even analysis. This will show you exactly what the costs are and how long it will take you to recover them. If you plan on getting a 5-Year ARM, for example, and your loan costs will not be recovered until the 10th year, then the loan may not make economic sense.

 

 

 

 

Types of Loan Programs to Consider:

 

Conventional Mortgage Loan - 30-Year fixed, 20-Year fixed, 15-Year fixed

FHA Mortgage Loan - FHA fixed mortgage, FHA streamline refinance

Jumbo Mortgage Loan - Mortgages that are higher balance loans outside of Fannie Mae and Freddie Mac guidelines

VA Mortgage Loan - Mortgage designed specifically for veterans who have served in the US military

Refinance Rate & Term Mortgage Loan - Mortgage designed to reduce the rate and term of your mortgage

Purchase Mortgage Loan - Mortgage designed to help facilitate the purchase of a home

Cash-Out Mortgage Loan - Mortgage designed to provide cash out by converting equity into a new loan

 

 

 

Compare Mortgage Rates: Advice & Calculator Today!
Our free service connects borrowers like you with lenders who provide a variety of products including mortgages, auto loans and home equity loans
Start Request
Lock Privacy & Security Protected
Give your mortgage a checkup!

See how healthy your home loan is compared to today's rates.

Get Started
Advice & Calculators Guide

Download our free guide today and learn how to leverage our expertise to choose the best mortgage and succeed financially.

Guide to Advice & Calculator