Refinancing Calculator


This financial calculator will help you decide whether or not you should refinance your current mortgage at a lower interest rate. The calculator will compute the monthly payment and net interest savings as well as how many months it will take to recoup the closing costs and break even.

Mortgage Refinancing Calculator
Mortgage Balance (Payoff Amount):
Current P&I Monthly Payment:
Current Interest Rate:
New Interest Rate:
Refinancing Period (# Years new Loan):
Closing Costs required for refinancing:
New P&I Monthly Payment
Monthly Savings:
Number of months to break even on closing costs:
Total Interest, Current Loan
Total Interest, New Loan
Interest Savings over Life of Loan
Net Refinancing Savings (interest savings less costs):

What next?

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