Mortgage Refinancing Calculator

Please note that this information should be used as a guideline and is not a commitment to lend.

Mortgage Refinancing Calculator
This calculator will help you to decide whether or not you should refinance your current mortgage at a lower interest rate. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even on the closing costs.
Enter the balance of your mortgage: (call your mortgage lender and ask for the current payoff amount)	$ .00
Enter the amount of your monthly mortgage payment: (principal and interest portion only)	$ .00
Enter your mortgage's current interest rate:	%
Enter interest rate you will be refinancing at:	%
Enter the amortization 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):	$

Note: The commercial mortgage calculators displayed in this website should be used as a guideline and do not represent a commitment to lend. Commercial Loan Direct and CLD Financial, LLC are not liable for any calculation errors resulting from the use of these calculators.

Mortgage Refinancing Calculator

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