Mortgage Refinance

Should you refinance your mortgage? That depends on a multitude of factors. These factors include your current interest rate, the new potential rate, closing costs and how long you plan to stay in your home. Use this calculator to sort through the confusion, and determine if refinancing your mortgage is a sound financial decision.

Please fill-in the details to determine if you want to refinance your mortgage:

General Information
Estimated Purchase Payments
Marginal tax rate
New mortgage rate
Resale plan in months
New term in years
Current Mortgage
Proposed Closing Costs
Original mortgage amount
Points
Current mortgage rate
Application
Original term in years
Title
Number of months paid
Legal
Other

Interest savings (costs):
Total savings (costs)
 
CURRENT
PROPOSED
Mortgage Amount
Mortgage Payment
Total Fees
Points
Months to recover refinancing costs
Tax deduction on interest
Interest savings (costs)
Total savings (costs)