Refinance calculator

This calculator will help you decide whether or not you should refinance your current mortgage at a lower interest rate. It will calculate the monthly payment and the net interest.

Your Loan Information

Principal Balance of your mortgage:

Amount of your monthly mortgage payment:

Mortgage current interest rate:

Interest rate you will be refinancing at:

Number of years you will be refinancing for:

Closing costs required for refinancing:

Results of Refinancing

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

This is your MONTHLY Savings:

The interest you will pay under your current monthly payment plan:

The 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):