Does anyone know of a good mortgage refinancing calculator that includes additional principal payments? Or more specifically what the break even additional principal payment is between two rates?
I currently owe $87,000 on my house purchased for $137,000 in 2017. My current mortgage rate is 4.00% for a 30 year loan.
Through credible.com’s refinance rates I can get a 15 year fixed mortgage for 2.625% + $5,000 in loan costs.
Asking because I started a new job in September at a lower salary and won’t be able to pay down the principal as aggressively as I have the past few years.