Check out this refinance calculator found at the link below. If you are considering breaking your mortgage to refinance, since interest rates are so low this calculator can help determine if it is worth it. You will need to determine what the cost to break your current mortgage is which will depend on a number of factors. If you contact your lender they will be able to tell you whether they are calculating your cost to refinance based on the interest rate differential or often 3 months interest payments.
Mortgage Refinance Calculator
This tool will give you an idea but I would highly recommend speaking to a financial advisor to determine the best course of action. Often you can receive free advice on this type of matter just by asking.
Mortgage
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Nov 09