This
mortgage refinancing 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. Click
on any of the links provided to get more information.
|
Mortgage Refinancing Calculator |
|
|
Enter the principal
balance of your mortgage:
|
|
|
Enter the amount of your monthly payment
(P&I
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 on the new loan (then hit compute):
|
|
|
|
|
|
This would be the monthly payment on
your new loan:
|
|
|
Monthly Savings:
|
|
|
Number of months to break even on closing
costs:
|
|
|
This is how much interest you will pay
with your current loan:
|
|
|
This is how much interest
you will pay with the new loan:
|
|
|
This is how much interest you will save
if you refinance:
|
|
|
Net Refinancing Savings (interest savings
less closing costs):
|
|
|
|
|
For more information on home loans please call Alex with Miller mortgage at (801) 838-7256.
Tell him Doug sent you!