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Refinancing a Mortgage

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

Refinancing a Mortgage
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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.

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Last updated on Feb 23, 2017.

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