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How To Figure Mortgage Refinance Costs - Mortgage Refinance Calculator

By: Rick Contrata

Mortgage refinance costs might seem a little off subject for a domain registration, web hosting and Internet marketing website like devNIC. We'll get to that in a moment, in the meantime, we'd like to let you know that what you'll also be surprised to discover is how and why mortgage refinance costs can affect your online business's bottom line. We even have a free mortgage refinance calculator for you right here on this webpage.

You've probably found us because the information you're seeking is relative to your online business. Basing your business online doesn't change the fact that it's a business and although it might be web based, it still has the characteristics of any other small business. Some of the same basic rules and functions of business that apply offline are equally important online and that's why...

We want to give the unique visitors to our website more information about how to promote and operate any type of small business whether it's online or not.

Small business planning involves more that a marketing plan, flashy business cards, brochures and a website. You've got plenty of other items to take into consideration like tax planning, managing your resources and controlling expenses.

There's a good chance that your web-based business has its roots right in your home. Everybody knows that one advantage of running your online or offline business from your home is taking advantage of tax deductions like the office in your home.

You're probably saying "Duh…so tell me something that I don't know." Well, for starters, did you know that the home office deduction is one of the most frequent triggers for an IRS audit of your income tax return? That means you'd better be able to justify the deduction, including an accurate accounting of the office size in relation to the total square footage of your home.

In addition, cutting your business expenses has a dollar for dollar positive impact on your net income unlike a deduction which only gives you a percentage of the benefit. In other words, cutting expenses is like adding revenue to your bottom line. Let's look at some numbers.


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Check The Current Best Mortgage Rates

You can check the current best mortgage rates right now with this chart of the best mortgage rates located on the right side of this page. Courtesy of thefinancials.com


Free Mortgage Refinance Calculator

First, grab a recent copy of your mortgage statement. You're going to need a few "real" numbers from it to get a good estimate of your mortgage refinance costs.

A simple mortgage refinance calculator to estimate mortgage refinance costs.

Mortgage Refinancing Calculator
This JavaScript calculator will help you to decide whether or not you should refinance your current mortgage at a lower interest rate. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even on the closing costs.
Enter the principal balance of your mortgage:
(call your mortgage lender and ask for the current payoff amount)
Enter the amount of your monthly mortgage payment:
(principal and interest portion only)
Enter the your mortgage's current interest rate:
Enter interest rate you will be refinancing at:
Enter the number of years you will be refinancing for:
Enter the closing costs that will be required for refinancing:
This is how much your monthly payment will be if you refinance:
Monthly Savings:
Number of months to break even on closing costs:
This is how much interest you will pay under your current monthly payment plan:
This is how much interest you will pay under your refinanced monthly payment plan:
This is how much interest you will save if you refinance:
Net Refinancing Savings (interest savings less closing costs):
Copyright © 1997-2005 Web Winder Site Traffic Magnets. All rights reserved.


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Run the numbers, review your options and consult professionals

Now that you've gotten the information, the options and the tools to decide if a mortgage refinance could be a good decision for your business, consult professionals like your accountant and your banker for the final details. If you're ready to start researching your mortgage options, devNIC recommends MortgageLoan, where lenders compete and you save.

Mortgage refinance calculator courtesy of Web Winder Site Traffic Magnets

Related articles:
How to Calculate Mortgage Payment Affordability - Mortgage Payment Tutorial
Home Mortgage Refinancing Guidelines - Home Mortgage Refinance Calculator
Get a Free Federal Tax ID Number & Form, Federal Tax ID Tutorial

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Disclaimer: The information and the accuracy of the interactive calculator on this web page are provided as a self help guide only. This information and it's accuracy in no way replaces the expertise and guidance of industry professionals.

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Figuring Mortgage Refinance Costs, Mortgage Refinance Calculator - How to calculate mortgage refinance costs. Plus, check the current best mortgage rates and use our simple mortgage refinance calculator.

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Rick Contrata


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