Refinance Calculator


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Car loan refinance calculator?
Any one know where to get one.

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3 refinance calculators - 3 different answers?
http://www.bankrate.com/calculators/mortgages/refinance-calculator.aspx http://www.lendingtree.com/mortgage-refinance/calculators/ http://www.bankofamerica.com/loansandhomes/index.cfm?template=learn_calculators&context=financenter&calcid=home11 I used each of these mortgage calculators to see if I should refinance, using the same conditions for each one. I have gotten answers from I will save $50K in interest (bankrate) to I shouln't refianance (lending tree). What gives? Some ask for a savings rate and some don't. Which do you think is most accurate?

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Is a refinance for a lower rate really beneficial if it means adding back the 7 years I?ve already paid off?
I've paid off 7 years of my home loan. The refinance calculators all tell how long it takes to get back the upfront cost of the refinance but what about the 7 years I'll add back to the loan? Isn't that also a cost of refinancing? If I still want to pay off my home in the 23 years I currently have left, my current payment is $1050 and I could get it down to $800, I think it would take about 21 years of continuing to pay $1050 to be able to pay off the house in 23 years. So how is that a sound financial decision? I would really only save about $6000 over the next 23 years.

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