Home Buying Calculator

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:
1. This is how much your monthly payment will be if you refinance:
2. Monthly Savings:
3. Number of months to break even on closing costs:
4. This is how much interest you will pay under your current monthly payment plan:
5. This is how much interest you will pay under your refinanced monthly payment plan:
6. This is how much interest you will save if you refinance:
7. Net Refinancing Savings (interest savings less closing costs):