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Refinance Calculator:
This calculator will help you to decide whether or not you should refinance your current mortgage at a lower interest rate. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even on the closing costs.
Enter the principal balance of your mortgage: (call your mortgage lender and ask for the current payoff amount)
Enter the amount of your monthly mortgage payment:
(principal and interest portion only)
Enter the your mortgage's current interest rate:
Enter 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:
This is how much your monthly payment will be 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):
Homebuyers Credit
Loan Amount*
Please Select
Less than $100,000
$100,001 - $110,000
$110,001 - $120,000
$120,001 - $130,000
$130,001 - $140,000
$140,001 - $150,000
$150,001 - $160,000
$160,001 - $170,000
$170,001 - $180,000
$180,001 - $190,000
$190,001 - $200,000
$200,001 - $210,000
$210,001 - $220,000
$220,001 - $230,000
$230,001 - $240,000
$240,001 - $250,000
$250,001 - $275,000
$275,001 - $300,000
$300,001 - $325,000
$325,001 - $350,000
$350,001 - $375,000
$375,001 - $400,000
$400,001 - $425,000
$425,001 - $450,000
$450,001 - $475,000
$475,001 - $500,000
$525,001 - $550,000
$550,001 - $575,000
$575,001 - $600,000
$600,001 - $625,000
$625,001 - $650,000
$650,001 - $675,000
$675,001 - $700,000
$700,001 - $725,000
$725,001 - $750,000
$750,001 - $775,000
$775,001 - $800,000
$800,001 - $825,000
$825,001 - $850,000
$850,001 - $875,000
$875,001 - $900,000
$900,001 - $925,000
$925,001 - $950,000
$950,001 - $975,000
$975,001 - $1,000,000
$1,000,001 - $1,100,000
$1,100,001 - $1,200,000
$1,200,001 - $1,300,000
$1,300,001 - $1,400,000
$1,400,001 - $1,500,000
$1,500,000+
Property Value*
Please Select
Less than $100,000
$100,001 - $110,000
$110,001 - $120,000
$120,001 - $130,000
$130,001 - $140,000
$140,001 - $150,000
$150,001 - $160,000
$160,001 - $170,000
$170,001 - $180,000
$180,001 - $190,000
$190,001 - $200,000
$200,001 - $210,000
$210,001 - $220,000
$220,001 - $230,000
$230,001 - $240,000
$240,001 - $250,000
$250,001 - $275,000
$275,001 - $300,000
$300,001 - $325,000
$325,001 - $350,000
$350,001 - $375,000
$375,001 - $400,000
$400,001 - $425,000
$425,001 - $450,000
$450,001 - $475,000
$475,001 - $500,000
$525,001 - $550,000
$550,001 - $575,000
$575,001 - $600,000
$600,001 - $625,000
$625,001 - $650,000
$650,001 - $675,000
$675,001 - $700,000
$700,001 - $725,000
$725,001 - $750,000
$750,001 - $775,000
$775,001 - $800,000
$800,001 - $825,000
$825,001 - $850,000
$850,001 - $875,000
$875,001 - $900,000
$900,001 - $925,000
$925,001 - $950,000
$950,001 - $975,000
$975,001 - $1,000,000
$1,000,001 - $1,100,000
$1,100,001 - $1,200,000
$1,200,001 - $1,300,000
$1,300,001 - $1,400,000
$1,400,001 - $1,500,000
$1,500,000+
Loan Type*
Purchase
Refinance
Refinance - Cash Out
Credit Score*
Please Select
740 - 850
720 - 739
700 - 719
680 - 699
660 - 679
640 - 659
620 - 639
0 - 619
Zip Code*
Property Type*
Please Select
Single Family
Condo
Townhome
2-4 Unit
Commercial
Occupancy*
Please Select
Owner Occupied
Non-owner occupied
Name*
Email*
Phone*
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