MORTGAGE REFINANCE CALCULATOR
This refinance calculator shows you if it makes sense to refinance your home loan! When making the decision regarding refinancing and using this refinance calculator, you need to consider a couple of things. - How long do you plan to live in the home? - How much will it cost you to refinance your mortgage loan? Once you know these two things, you can determine if your accumlated monthly savings from refinancing will be enough to recoup the costs of refinancing your mortgage loan. Keep in mind however, that this calculator will assume that you have made all of your mortgage payments on time, as scheduled. If you have made a couple of larger than normal payments to pay-down the loan principal, or if you have made some late payments, your actual loan balance on your current mortgage loan could be different. Also remember that this calculator only addresses the principal and interest (P&I) part of your loan, not any real estate taxes or insurance that might be part of your monthly mortgage payment.
ENTER YOUR CURRENT MORTGAGE LOAN INFORMATION
Original loan amount:
Current loan's interest rate:
Number of years left to pay on current loan:
ENTER YOUR NEW MORTGAGE LOAN INFORMATION
New interest rate:
New loan term:
Costs related to new loan
(If you leave blank calculator will assume 3% of the outstanding loan balance):
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