Loan Type

Today
1-Year ARM
5.46%
5/1 ARM
5.75%
15-Year Fixed
6.14%
30-Year Fixed
6.29%
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Refinance Calculator

Before heading out to do a mortgage refinance weigh your options carefully. It is always a good idea to refinance your existing home loan to a lower interest rate. But use this calculator to determine whether the savings over time in interest are worth paying for a new home loan and restarting your mortgage term.

Looking for more home loan calculators? Click here to view our Mortgage Calculator directory.

Should I Refinance?

Input
Loan Info
Amount ($)
Interest (%) (%)
Loan Length (Yrs) (Yrs)
Months Paid (Mts)
Years Before Sell (Yrs)
Refinansing Fees
Points (%)
Origination Fees (%)
Closing Cost ($)
Your Tax Rates and Deductions
Your Tax Rate (%)
State Tax (%)
Financial Analysis
  Original Loan Refinanced Loan
Monthly Payment $1,247.74 $1,080.08
Total Monthly Payment $74,864.39 $64,804.94
Monthly Payment Savings $10,059.44
Total Interest Paid $56,931.13 $51,409.13
Tax Savings $17,648.65 $15,936.83
Tax Saving Losses $1,711.82
Balance at Refinance $186,950.49
Points Value $1,869.50
Amount Refinanced $185,080.98
Balance at Sale $169,017.23 $171,685.17
Balance Losses $2,667.94
Total Losses $4,379.76
Total Closing Cost $4,004.26
Total Benefits $1,675.43