TOP
Refinancing a Mortgage

See the cost and savings of refinancing at a lower interest rate, net of closing costs, etc.

Refinancing a Mortgage
$ %
Yes No

Reset

Results
New monthly payment (after refinancing) ---
Change in Monthly Payment ---
Time to offset closing costs by interest savings ---
Total interest to be paid under existing mortgage ---
Total interest to be paid under refinanced mortgage ---
Interest Savings ---
Refinancing Savings (net of closing costs) ---

If you refinance your current 4.00% mortgage and your current 45.00% mortgage into a single 45.00% mortgage, your monthly payment will decrease by $87.56 and you will pay an additional $1,249.43 in interest charges over the life of the mortgage.