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This calculator will help you decide whether or not you should refinance your current mortgage at a lower interest rate. It will calculate the monthly payment and the net interest.

Your Loan Information:
Principal Balance of your mortgage :
(call your mortgage lender for the current payoff amount)
Amount of your monthly mortgage payment:
Mortgage current interest rate:
Interest rate you will be refinancing at:
Number of years you will be refinancing for:
Closing costs required for refinancing:


Results of Refinancing:
This is how much your monthly payment will be if you refinance:
Monthly Savings:
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):

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Compound Interest Calculator

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