## Refinance Calculator

Refinancing is a good thing to check every so often, as this can lower your monthly mortgage rates. This **refinance calculator** will help you get a general idea on what your refinance could do to your mortgage rates. This is strictly an estimate and will give you details of the current home loan with newer terms and rates.

Enter the principal balance of your mortgage: | |

Enter the amount of your monthly mortgage payment: | |

Enter the your mortgage's current interest rate: | |

Enter interest rate you will be refinancing at: | |

Enter the number of years you will be refinancing for: | |

Enter the closing costs that will be required for refinancing: | |

This is how much your monthly payment will be if you refinance: | |

Monthly Savings: | |

Number of months to break even on closing costs: | |

This is how much interest you will pay under your current monthly payment plan: | |

This is how much 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): | |

Using the refinance calculator is easy to use and 100% secure. We do not store any information on our site. After a few simple steps, you will have your results instantly. Please have your mortgage information handy and this will speed up your calculator progress.

First enter the PRINCIPAL balance of your mortgage.

After this you need to enter in your monthly mortgage payments.

Enter your current mortgage interest rate.

The interest rate in which you will be refinancing at comes next.

Enter the number of years you will be refinancing for in the following box.

Lastly, enter your closing costs that will be required for refinancing and click COMPUTE.

Below will be the calculations of the above information on the refinance calculator. This will include monthly payments and savings, compared interest rates from current to future and how much you will save by refinancing.