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Mortgage Refinance Calculator


Enter the balance of your current mortgage (ask your mortgage lender for the current payoff or look at your latest statement):
Enter your current monthly mortgage payment:
Enter your current mortgage's  interest rate:
Enter the interest rate you can refinance at:
Enter the number of years you can refinance at:
Enter the closing costs that you will be paying to refinance:
This is  your new monthly payment if you refinance:
Monthly Savings:
This is how much interest you will pay under your current mortgage:
This is how much interest you will pay under your new refinanced mortgage:
You will save this much interest if you refinance and keep the new mortgage to term:
Net Refinancing Savings (interest savings minus closing costs):
 
 


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