mortgage refinancing - how much can I save

Refinance Calculator

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.
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 & Interest Only):
Enter 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 : (Typically, # of points is "2" or dollar amount is .02 times the principal)
Would you like to finance the closing costs?

This is how much your monthly payment will be if you refinance:
Monthly Payment Reduction:
# of months for interest savings to offset 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):

If your in a hurry online loan applications get you started fast, your choice of lenders

You may find the answers to your money questions in our articles on personal finances. Browse Articles - Articles-2

Debt Consolidation: A Way Out?
When you are living paycheck to paycheck and it seems everyone is getting a piece of the pie..

Auto Loans with Bad Credit
Purchasing a new car trying to locate auto financing...

Home Equity Loan - Is It For You?
An easy way to not only pay off other non-deductible debt, but to come up with large wads of cash...

Payday loan: A Complete overview
If you are a person taking the payday loan for the first time or want to gather information regarding payday loan...