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Refinance Calculator

Enter the principal balance of your mortgage: balance
Enter the amount of your monthly mortgage payment: payment
Enter the your mortgage’s current interest rate: current rate
Enter interest rate you will be refinancing at: new rate
Enter the number of years you will be refinancing for: years
Enter the closing costs that will be required for refinancing: closing costs


This is how much your monthly payment will be if you refinance: new payment
Monthly Savings: mo. savings
Number of months to break even on closing costs: break even
This is how much interest you will pay under your current monthly payment plan: current interest $
This is how much interest you will pay under your refinanced monthly payment plan: new interest $
This is how much interest you will save if you refinance: saved interest $
Net Refinancing Savings (interest savings less closing costs): total savings

Summary

 

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