Refinance Calculator

This Calculator will help you determine if now is the right time to refinance.

Information on your CURRENT mortgage
What was the month in which this mortgage originated?	January February March April May June July August September October November December
What was the year in which this mortgage originated?
What was the original amount of this mortgage?
What is the term of this mortgage?	year
What is the interest rate?
Information on your NEW mortgage
What is the mortgage amount? (The value at right is the calculated amount you currently owe)
What is the term of this mortgage?	year
What is the interest rate?
What are your estimated closing costs, including any points paid upfront?

The Results
Your current monthly payment is
Your new monthly payment will be
If you refinance now, your monthly payments will be reduced by
It will take this long to "break even," or recover closing costs on the new mortgage

Mortgage analysis	CURRENT Loan	NEW Loan
Number of payments made so far
Number of remaining payments at refinance date
Total interest paid as of refinance date
Total unpaid interest at refinance date