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Refinance Calculator

Please fill out the following form and use this refinance calculator to help you see when you can expect to break-even.

Note: This calculator estimates savings using the difference between your existing and new payments for the life of your new loan. Actual savings may vary if refinancing to increase or reduce the term of the loan.

Information on your CURRENT mortgage
What was the month in which this mortgage originated?
What was the year in which this mortgage originated?
What was the original amount of this mortgage?
What is the term of this mortgage? year
What is the interest rate?
Information on your NEW mortgage
What is the mortgage amount? (The value at right is the calculated amount you currently owe)
What is the term of this mortgage? year
What is the interest rate?
What are your estimated closing costs, including any points paid upfront?


The Results
Your current monthly payment is
Your new monthly payment will be
If you refinance now, your monthly payments will be reduced by
It will take this long to "break even," or recover closing costs on the new mortgage

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