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Home    Mortgage Income Calculator     Loan Amortization Calculator
To use the calculator below,  fill in all 6 values on the form above the Results line then click "Compute".

Mortgage Refinance Calculator

  Entered Values
What is your current mortgage's principal balance?
Current mortgage monthly payment?
Current mortgage interest rate?
Refinancing interest rate?
Refinance mortgage term in years?
Refinancing closing costs?
Results:

New monthly payment will be:
Monthly savings from refinancing:
Number of months to break even on refinancing costs:
Total interest for current mortgage to termination:
Total interest for refinanced mortgage to termination:
Interest savings:
Net refinancing savings (interest expense minus closing costs):

                  

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