The decision to refinance a home mortgage can involve many factors. You might want to take cash out of your home when you refinance to use for other purposes. But the most common purpose is to obtain a lower interest rate and lower monthly payments. In the latter case, the decision to refinance should be based on lowering the overall mortgage costs and realizing your monthly savings in a reasonable period of time.
If your mortgage is with 1st Source, click on this link or call Mortgage Servicing at 800-621-8329 if you need your current balance, interest rate, and monthly payment.
Please note: The payments calculated below are principal and interest only and do not include taxes and insurance.