Enter the specifics about your current mortgage along with your current appraised value, new loan term, rate and closing costs. This calculator will help determine how much refinancing can save you and if you should refinance your mortgage. It will also calculate the number of months to break even on closing costs with your reduced monthly payment. Click the 'View Report' button for a detailed look at the results.
Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.