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Refinance Calculator

Our refinance calculator will show you whether or not it would be advantageous to refinance an existing single mortgage, or refinance existing first and second mortgages. Not only will our mortgage refinance calculator calculate the monthly payment and net interest savings (if applicable), but it will also calculate how many months it will take to break even on the closing costs (if applicable).

Note: Instructions for our refinance calculator are located beneath the calculator on the lower part of this page.

Existing First Mortgage Terms

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Principal Balance: Dollars Monthly Principal and Interest Payment: Dollars Current Interest Rate: Percent

Existing Second Mortgage Terms (Optional)

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Principal Balance: Dollars Monthly Principal and Interest Payment: Dollars Current Interest Rate: Percent

Refinance Mortgage Terms

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Interest Rate: Percent Loan Term: Years Closing Costs Points Dollars : Points or Dollars Finance closing costs?: No Yes

Refinance Mortgage Results

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New Monthly Payment: Dollars Monthly Payment (Decrease)/Increase: Dollars Number of Months to Recover Closing Costs: Months Interest with Current Mortgage Terms: Dollars Interest with Refinance Mortgage Terms: Dollars Interest Saved by Refinancing: Dollars Net Refinancing Savings (Interest Saved - Closing Costs): Dollars

Refinance Calculator Instructions

• Enter dollar amounts without dollar signs, commas, decimal points or cents (i.e. for a $150,000.00 principal amount, enter 150000).
• Enter the desired interest rate as a value between 0 and 100 without a percent sign (i.e. for 6.5%, enter 6.5).