Mortgage Refinancing  
During the past few years, record numbers of Americans have refinanced their home mortgages as a result of historically low interest rates. This calculator is designed to help you determine whether you should consider refinancing your mortgage.
     

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)

$
 
   
   
Budd, Melone & Company, LLC
Budd, Melone & Co. LLC MI Office
3121 University Drive
Suite 180
Auburn Hills, MI 48326
248-499-8704
Fax 248-499-8721

Budd, Melone & Co. LLC TN Office
725 Cool Springs Blvd.
Suite 600
Franklin, TN 37067
615-567-3056
Fax 615-567-3086
Phone:
Toll Free 877-293-5830
• lmelone@wfafinet.com jbudd@wfafinet.com mlanderson@wfafinet.com