Mortgage Refinance Calculator

How much interest can you save if you refinance your mortgage? This calculator helps you find out! Enter the specifics about your current mortgage, along with new loan amortization, rate and closing costs. We will then determine how much interest refinancing can save you.

Mortgage Amount: Current Mortgage Balance: $98,663.79
Interest Rate: New Mortgage Balance: $98,663.79
Mortgage Amortization: Interest on Mortgage: $121,143.80
Payment Type: Interest on New Mortgage: $77,721.34
Payments Made:
New Interest Rate: Interest Savings: $43,422.46
New Mortgage Amortization: Monthly Savings: $175.26
New Payment Type:
Prepayment Penalties:
Closing Costs:
The refinancing breaks even in 11 months.