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Mortgage Refinancing Help
: Science: Social Sciences: Economics: Financial Economics
: Institutes (17)
 Refinancing is not the only way to decrease the term of your mortgage. By paying a little extra on principal each month, you will pay off the loan sooner and reduce the term of your loan. For example, adding $50 each month to your principal payment on the 30-year loan above reduces the term by 3 years and saves you more than $27,000 in interest costs.
 Bendheim Center for Finance »
Program encourages interdisciplinary research in quantitative finance. Provides list of degree programs.
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 Oxford Financial Research Centre »
Provides news, description of research, working papers, and descriptions of upcoming conferences and seminars.
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 Deutsche Bank Research »
Responsible for macroeconomic research in the Deutsche Bank Group.
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 Derivatives Study Center at the Financial Policy Forum »
Research institute studying the regulation of financial markets in the U.S. and around the world.
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 Institute of Public Finance and Fiscal Law »
Research center at the University of St. Gallen, Switzerland, provides list of researchers and announcements of upcoming conferences.
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 Centre for Financial Research »
Centre at the University of Cambridge provides information on education programs, research, seminars, and faculty.
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 Financial Economists Roundtable Homepage »
Annual meeting of selected finance economists provides list of statements and pronouncements from previous meetings.
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 Wharton Financial Institutions Center (FIC) »
Center sponsors research on financial institutions. Provides list of members, conference announcements, and working papers.
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 Center for Finance and Econometrics (CoFE) »
Institute at the University of Konstanz with focus on the quantitative analysis of financial markets. Provides list of staff, discussion papers, and descriptions of current projects.
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 Center for Research in International Finance (CIFRA) »
University of Amsterdam based institute studies international financial integration and corporate finance. Provides seminar schedule and list of current projects.
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 University of Zurich - Faculty of Economics »
Faculty of Economics
- Doctoral Program in Finance. Page includes list of required courses.
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 Center for Financial Studies (CFS) »
Institute at the University of Frankfurt provides calendar of events, list of members and publications, and links to finance-related web sites.
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 Rodney L. White Center for Financial Research »
Institute at the University of Pennsylvania provides list of members, working papers, and prize and conference announcements.
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 Institute for Quantitative Research in Finance (The Q-Group) »
Conducts practical training and research into investment techniques.
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 Bank for International Settlements »
Publications include policy and working papers, as well as a compendium of documents produced by the Basel Committee on Banking Supervision.
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 Center for Nonlinear Dynamics in Economics and Finance (CeNDEF) »
University of Amsterdam institute provides list of researchers, publications, and recent workshops.
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 Center for Research in International Finance (CRIF) »
Fordham University institute provides information on seminars, working papers, and members.
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 When refinancing, don't take the first offer that comes around. Instead you should actively compare both interest rates and lenders.
Refinancing is not the only way to decrease the term of your mortgage. By paying a little extra on principal each month, you will pay off the loan sooner and reduce the term of your loan. For example, adding $50 each month to your principal payment on the 30-year loan above reduces the term by 3 years and saves you more than $27,000 in interest costs.
Changing the term of your mortgage can help in several ways. First, if you were to refinance your current mortgage from 30 years to 15 years, you will accelerate the rate at which you pay towards principle each month meaning your house will be paid off quicker. Also, you will save an unbelievable amount of money in terms of interest because you would likely be taking 10 to 15 years off the life of your loan. Second, you can also refinance a 15 year mortgage to a 30 year mortgage. It seems like it might not make sense to do this, but if you have an immediate need to free up monthly cash-flow and you don't want to take out a home equity loan, this can work out to your benefit. When you take a 15 year loan and refinance it to 30 years you will have the same balance only the payments can be hundreds of dollars less than the 15 year loan. The only draw back to this is you will pay more in interest over the live of the loan.
Don't rely on published rates. "No one's going to advertise their worst product," says Keith T. Gumbinger of HSH Associates, a Butler, NJ, firm that tracks mortgage rates. "They advertise the best possible rate, which probably gets offered to only the top 10 percent of applicants."
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