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Refinance Savings Calculator

For your convenience we have added a refinancing savings calculator. Simply enter the values of the current loan amount and rate. 

Mortgage Refinancing Calculator

This calculator will represent savings from refinancing your current loan. It will also calculate how many months it will take to break even on loan closing costs. Please DO NOT USE COMMAS or it will not work.
Enter the principal balance of your mortgage (call your lender and ask for the current payoff amount):
Enter your monthly mortgage payment:
Enter your mortgage's current interest rate:
Enter the 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:
   Results Listed Below
This is your NEW Monthly Payment  if you refinance: *
Monthly Savings:
Number of months to break even on 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):

 Lower Your Mortgage Payment ! Bad Credit OK

NOTE: This calculator is used best for Refinancing your current balance. It's not recommended for comparing costs when cashing out equity from the proceeds or getting a higher loan amount.

 

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