Mortgage Refinance Calculator
 
 

Mortgage Refinance Calculator

This mortgage refinance calculator will figure how much interest you save over the life of the loan plus how long it takes to break-even on the refinancing costs. It will also calculate your new, lower payment when you refinance your current mortgage at a lower interest rate. Use this calculator to decide if refinancing makes good business sense... or not.

Enter the remaining balance of your mortgage:
Enter your monthly mortgage payment (Principal & Interest Only):
Enter your current interest rate:
Enter interest rate you will refinance at:
Enter the number of years you will refinance for:
Enter closing costs :
Are you going to finance the closing costs?
This is your new mortgage payment if refinanced:
Monthly Payment Reduction:
# of months for interest savings to offset closing costs:
This is how much interest you will pay under your current monthly payment plan:
This is how much interest you will pay under your refinanced monthly payment plan:
This is how much interest you will save if you refinance:
Net Refinancing Savings (interest savings less closing costs):

 






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