Mortgage Refinance Calculator
This 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.
Principal balance of your mortgage
Monthly mortgage payment
Interest rate of current mortgage
Interest rate of new mortgage
Number of years refinancing for
Refinancing closing costs

Your new monthly payment:
Monthly savings:
Months to break even on closing costs:
Interest under the old mortgage:
Interest under the new mortgage:
Interest savings:
Net refinancing savings:

*Calculators for general estimate purposes only.