Time to Refinance?
Bill Brown
NMLS# 1460898
678-679-6057
Top 3 Lender
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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.
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 principal balance of your mortgage:
(call your mortgage lender and ask for the current payoff amount)
Enter the amount of your monthly mortgage payment (Principal & Interest Only):
Enter 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 :
(Typically, # of points is "2" or dollar amount is .02 times the principal)
Would you like to finance the closing costs?
This is how much your monthly payment will be if you refinance:
Monthly Payment Reduction:
# of months for interest savings to offset 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):
Loan Calculator
Loan amount ($):
Interest rate (%):
Term (years):
Additional monthly payment ($):
Monthly payment ($):
Total interest ($):
Average monthly interest ($):
Number of years:
Want to pay the loan off sooner?  Use the calculator below and input the addition to your monthly payment.  The
calculator will show you how many years it takes to pay off the loan with the additional monthly payment.