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Mortgage Refinancing Worksheet
Use this worksheet
as a guide to help you:
- estimate a refinanced mortgage payment amount (Step 1) and to
- help you determine if it's worth your while to refinance your existing mortgage (Step 2).
Talking about your mortgage: Homeowner’s insurance
Your lender will require that you have a homeowner’s insurance policy (sometimes
called hazard insurance) in effect at settlement. The policy protects against
physical damage to the house by fire, wind, vandalism, and other causes. This
insures that the lender’s investment will be secured even if the house is destroyed.
If you are buying a condominium, the hazard insurance may be part of your monthly
condominium fee; you may still want homeowner’s insurance for your furnishings
and valuables.
Estimated cost: $300 to $1,000 (depending on the value of
the home and the amount of coverage; you can estimate the cost to be about $3.50
per $1,000 of the purchase price of the home).
Refinance.net is committed
to helping consumers find great
rates and information on mortgage refinancing
loans. We are not a loan originator,
agent, broker or carrier. We simply
provide relevant information and a
more convenient method for consumers
to request refinancing quotes from
licensed professionals near their
homes.