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Refinance Mortgage - Payment Calculator

"Use our refinance calculator to see your payment savings."

Refinancing your mortgage is a good idea if it will save you money or allow you to take cash out without increasing your monthly outlay. To see just how much you'll save, enter your payment information below. Press the compute button and the mortgage refinance calculator instantly reveals your total savings less the amount you've estimated for closing costs and points.

Mortgage Refinance Calculator
This mortgage 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 and interest portion only)
Enter the your mortgage's current interest rate:
(use number only, not % sign)
Enter interest rate you will be refinancing at:
(use number only, not % sign)
Enter the number of years you will be refinancing for:
Enter the closing costs that will be required for refinancing:
This is how much your monthly payment will be if you refinance:
Monthly Savings:
Number of months to break even on 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):
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