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Should you refinance your home?

Is it worth it?

That depends! But should you look into it? Yes!

It’s amazing what 1% can save you over 10, 20 or 30 years.

This is a sweet infographic that breaks down exactly what 1% could mean for a refinance…

Should You Refinance?

Read this for an in-depth answer, or keep reading to get a general idea…

It’s easy to calculate the decision. You will need to figure out…

  1. The new interest rate after you refinance
  2. The approximate closing costs of your refinance
  3. The total amount you would save with the new interest rate

Or you can use the refinancing calculator here.

It’s not always as simple as those 3 steps. That’s why I wrote the more in-depth article.

You pay much more interest in the early years of a mortgage than you do in the later years. This means that a refinance may not make much of a difference if you only have a few years left.

You also don’t want to take out a new 30 year loan if you are close to paying off your existing mortgage.

Without further ado, here is this great infographic from Zillo.com to show you the difference that 1% can make on your mortgage…

What 1% Will Save You on Your Mortgage [infographic]

Are you considering a refinance?

Have you ever refinanced a home?

Share in the comments!

Infographic: Zillo.com

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