Refinancing your mortgage can be a powerful way to lower your monthly payments, shorten your loan term, or access your home equity. Simply Approved Mortgages’ Refinance Calculator makes it easy to estimate how much you can save and determine if refinancing is the right choice for you.
A refinance calculator is a tool that helps you estimate:
This calculator is ideal for homeowners looking to compare refinancing scenarios based on their current loan details.
Disclaimer: Advertised rates and fees depend on borrower qualifications and market fluctuations.
Follow these simple steps to calculate your refinancing benefits:
Enter Your Current Loan Details
Input the New Loan Terms
Review Your Results
Evaluate Your Options
At Simply Approved Mortgages, we operate with a 1.5% fee, significantly below the industry standard. This ensures more savings for borrowers without compromising service quality.
Disclaimer: Simply Approved Mortgages complies with all state and federal licensing requirements that we are licensed in.
Lower Monthly Payments
Shorten Your Loan Term
Save on Interest Costs
Consolidate Debt
Stabilize Your Rate
Rate-and-Term Refinancing
Cash-Out Refinancing
Streamline Refinancing
Credit Score
Home Equity
Debt-to-Income Ratio (DTI)
Loan-to-Value Ratio (LTV)
Stable Income and Employment
Refinancing makes sense when:
At Simply Approved Mortgages, we offer a wide range of mortgage products tailored to meet your needs:
👉 Explore these options today and find the perfect mortgage solution for your needs!
With our industry-leading 1.5% fee, compared to the standard 2.75%, we save you thousands while offering competitive rates tailored to your needs. Learn More.
Our team of seasoned professionals is dedicated to simplifying the mortgage process, providing personalized solutions, and ensuring you feel confident every step of the way.
We prioritize honesty and clarity. From disclosing every detail upfront to ensuring no hidden surprises, we build trust through our commitment to your financial success.
You can also get help from a Home Loan Expert.
Refinancing can allow you to lengthen the term of your mortgage, which will take longer to pay off but you’ll have lower monthly payments.
If you have an FHA loan and at least 20% equity in your home, you may be able to refinance to a conventional loan which would eliminate your monthly mortgage insurance premium.
Simply Approved Home Loan Experts can help you decide if refinancing is the right choice for you.
This depends on your loan and lender. If you have a conventional mortgage, jumbo loan, or VA loan, you’ll likely need to wait at least six months before you can refinance. If you have an FHA loan, you’ll probably need to wait between six months and a year.
Minimum credit score requirements vary depending on the type of loan. Generally, you’ll need a credit profile of at least 680 to qualify for a refinance.
Home equity is the percentage of your home’s value that you own. In other words, it’s what you’ve paid off already. For example, if your house is worth $200,000, and you’ve paid off $40,000 of your loan, you have 20% in equity. Generally, you’ll need at least 20% equity in your home for a refinance.
Ready to explore your refinancing options? Use our Refinance Calculator to estimate your savings and find the perfect loan terms for your financial goals.
Start Now:
Get a free credit score check to understand where you are and how to move forward.
Small changes in your credit score can lead to significant savings on your mortgage.
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Remember that a good credit score can lower your interest rate on your mortgage.
In today’s fluctuating economy, Canadian homeowners are increasingly looking at refinancing their mortgages
In today’s fluctuating economy, Canadian homeowners are increasingly looking at refinancing their mortgages
In today’s fluctuating economy, Canadian homeowners are increasingly looking at refinancing their mortgages
Reduce your monthly payment or loan term while unlocking the full potential of your home’s equity!
Unlocking the American Dream, One Home at a Time
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