1. What is the principal balance remaining on your current mortgage (from your last statement)?
2. What is the annual interest rate on your current mortgage?
3. How many years remain on your current mortgage?
4. What will the annual interest rate be on your new mortgage?
5. What will the term be (in years) of the new mortgage?
6. What will the loan origination fee and closing costs be (in percentage terms) on the new mortgage? (These are typically charged by the lender to process your loan. 1 point = 1 percent)
7. How many discount points (in percentage terms) will you be paying to lower (buy down) the interest rate?
8. What other fixed costs (in dollar terms) are there? (such as an appraisal)
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. Calculators provided by Emerald Connect, Inc.
