MORTGAGE REFINANCING CALCULATOR

Estimate Your Refinancing Savings

Find out if refinancing your mortgage is a smart financial move. Fill in the information below to compare your current mortgage with refinancing.

Please be aware that your actual payments may vary significantly from this estimate based on your actual refinancing product, rate, and term. This calculator is intended is for informational purposes only.

Instructions:

Fill in your total remaining principal on your existing loan.
Fill in the amount of your existing loan payment.
Fill in the interest rate of your existing mortgage.
Fill in the interest rate of the refinanced loan. If you don't have a refinancing interest rate, get a rate quote.
Fill in the term of the refinanced loan (the number of years you'll repay your refinanced loan over).
Fill in your refinancing closing costs.
Click Calculate. The amount of your refinanced mortgage payment, savings over your current loan, and the time required to break even will be displayed, in addition to more detailed savings information, such as interest savings.

Mortgage Refinancing Calculator
Principal Balance of Mortgage:	$
Current Payment:	$
Current Interest Rate:	%
Interest Rate For Refinanced Loan: Find Rates	%
Number of Years You Will be Refinancing For:	yrs
Closing Costs Required for Refinancing:	$

Results
Total Payment if You Refinance:	$
Monthly Savings:	$
Number of Months to Break Even on Closing Costs:	Mos
Interest Payment Under Current Mortgage:	$
Interest Payment Under Refinanced Mortgage	$
Total Savings on Interest with Refinancing:	$
Net Refinancing Savings:	$