Refinancing Calculator

Can you profit through refinancing? Use this refinancing calculator to check whether you’d be better off with a new home loan. It’s fast, free and easy.
 

Cash in on the bad economy

Homeowners haven’t had much to cheer about during the past year. The nation’s housing boom was followed by a crash of the real estate market (along with everything else). However, in an effort to jumpstart the economy, interest rates have been reduced to historically low levels.

For homeowners, there has never been a better time to refinance your mortgage. Especially for people who bought during the real estate boom, now is a golden opportunity to lock yourself into an amazingly low interest rate on your home loan. The purpose of this site is to teach you the basics of mortgage refinancing, and to begin putting you in touch with the professionals who can make it happen.

The economy has been hard on all of us, but mortgage refinancing can help you shore up your financial future. Free up extra money each month, pay off your home sooner or get out of debt faster. Mortgage refinancing can make it happen.
 
Mortgage Refinancing Calculator
This JavaScript 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):
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