New Refinance Calculator for Las Vegas Home Owners

Bills.com has released a new online
refinance calculator to help homeowners in deciding if refinancing is
beneficial to them or not. The floundering economy and historically-low mortgage
rates are leading these consumers, especially owners of Las Vegas homes, to ask
many refinancing-related questions that the new calculator hopes to answer.

Las Vegas homes‘ owners can use the
refinance calculator by entering their house and mortgage information such as
current loan balance, interest rate, home value and location. The system then
asks for their future goals such as lower payments, lower interest rate or
equity building. With this, it can give feedback on loan rates and closing
costs that might be favorable for the homeowner from the site’s network of
lenders. This will allow the consumer to get a clear answer on whether they
should pursue refinancing based on their unique situation and homeownership
goals, since people usually only look at the interest rates and just scratch
their heads.

One of notable differences that this new
calculator has is it doesn’t require financing knowledge from the user’s end.
However, there are still a few stumbles that its developers are smoothing out
for the next few weeks, such as the user’s ability to opt for reduced monthly
payments. This choice automatically gives the user an adjustable loan rate
option, which, while it gives low rates at the start, has a progressively
increasing rate over time, making it unsuitable for people who are more
concerned about the long term effects of refinancing.

Nonetheless, this new online calculator can
be very helpful in users just starting to find out about their refinancing
options. However, it’s highly recommended to not rely on it and to ask Las Vegas Realtors
for reliable professionals who can give concrete information
regarding terms and rates.

Source: RISMedia’s Real Estate Information Network (RREIN) &
Prudential Americana Group REALTORS.