Mortgage Pay Off Early

Save Even More Money After Refinancing

Have you taken advantage of lower interest rates and refinanced your mortgage? While you have lowered your monthly payment, your total interest costs may be higher! Assume the example below is a mortgage taken out in January of 2005:
Loan Amount               Years               Rate                 Payment                                   Total interest
$250000                      30                    7.5 %               $1,663.26                            [...]

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