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.
Your Current Mortgage Information
If you are unsure, multiply your current balance owed by 0.3.
The accuracy of this calculator and its applicability to your circumstances is not guaranteed.
Results should be discussed with a qualified professional before any product purchases or loan commitments are made.