This calculator will help you decide whether or not you should refinance your current mortgage at a lower interest rate. It will calculate the monthly payment and the net interest.
Principal Balance of your mortgage:
Amount of your monthly mortgage payment:
Mortgage current interest rate:
Interest rate you will be refinancing at:
Number of years you will be refinancing for:
Closing costs required for refinancing:
This is how much your monthly payment will be if you refinance:
This is your MONTHLY Savings:
The interest you will pay under your current monthly payment plan:
The 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 you are ready to start your buying or selling processgive us a call at 847-804-1059 - We´re happy to answer all your questions.