Should I Refiance My Mortgage?

Refinance Calculator

This calculator figures your monthly savings and also compares your principal balance in years with and without refinancing. Based on your total cost to refinance, a break even period is calculated in relation to your monthly savings. The time value of money and income tax deductions are not considered in this refinance calculation.

Loan Information

Refinance Information

Property Information

Time To Recover The Cost Of Refinancing

Refinance Calculator Results:

3 Year(s)
8 Month(s)
Time To Recover

Check Local Mortgage Rates

Today's Average 4.04%
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  • Payment Analysis
  • Monthly Payment $1,800.00
  • Proposed Payment $1,574.00
  • Monthly Savings $226.00
  • Financial Analysis
  • Balance at Sale $0.00
  • Refinance Balance at Sale $0.00
  • Loan Costs $10,000.00
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Get up to four free mortgage quotes from lenders in minutes!

Fill out a quick and easy form and you will be contacted by up to four mortgage lenders regarding your loan.

Analyze the total cost and savings of your refinance transaction.

Based on your current and calculated mortgage payments, this calculator estimates your monthly savings if you refinance your current loan. It also compares your principal balance in 5 years with and without refinancing. Based on your total cost to refinance (the loan points and loan costs you entered above), a break even period is calculated in relation to your monthly savings. The time value of money and income tax deductions are not considered in this refinance calculation.