Refinance Calculator | Home Refinance Calculator

Enter the principal balance of your mortgage: (call your mortgage lender and ask for the current payoff amount)

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Enter the amount of your monthly mortgage payment:

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Enter the your mortgage's current interest rate:

Enter interest rate you will be refinancing at:

Enter the number of years you will be refinancing for:

Enter the closing costs that will be required for refinancing: (If you're not sure, multiply your current balance owed by .02 )

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This is how much your monthly payment will be if you refinance:

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Monthly Savings:

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Number of months to break even on closing costs:

Months

This is how much interest you will pay under your current monthly payment plan:

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This is how much interest you will pay under your refinanced monthly payment plan:

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This is how much interest you will save if you refinance:

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Net Refinancing Savings (interest savings less closing costs)::

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Summary: