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Should I refinance and pay off my debt?
Every debt you carry has a rate, and together they average out to one number. A new mortgage replaces that blend with a single lower rate — and if you keep paying what you pay today, the difference goes straight onto the principal and the house is gone years early.
Today's debts
CURRENTThe new loan
PROPOSEDOptional. FHA loans carry annual mortgage insurance whatever the loan-to-value, so it applies even where a conventional loan at the same LTV would have none. Your loan officer or Loan Estimate has the figure.
Tracks your monthly saving until you type your own figure. This is what turns a smaller payment into a shorter loan.
Add your debts with a balance, rate and monthly payment, then enter the rate and term of the new mortgage.
All four happen in your browser. Your figures are not sent anywhere — the email opens in your own mail app, already filled in.
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