Mortgage Refinance Calculator


This JavaScript calculator will help with the comparison of your current home financing to
alternatives offered by various lenders. This calculator compares the current and refinancing
to calculate the monthly payment and net interest savings as well as the break-even period
required to repay closing costs. The assumption is that you will be refinancing the current
principal without withdrawing any cash.

Fill in the blanks, hit Compute, and see if it's time to refinance.

Mortgage Refinance Calculator by Nationwide Financial NetworkSM
  Entered Values
What is your current mortgage's principal balance?
Current mortgage monthly payment?
Current mortgage interest rate?
Refinancing interest rate?
Refinance mortgage term in years?
Refinancing closing costs?
Results:
New monthly payment will be:
Monthly savings from refinancing:
Number of months to break even on refinancing costs:
Total interest for current mortage to termination:
Total interest for refinanced mortage to termination:
Interest savings:
Net refinancing savings (interest expense minus closing costs):
© 2006 Nationwide Financial Network


Disclaimer
This financial calculator is provided for general informational purposes. It is intended as a public service to enable you to figure a rough estimate of your financial needs. It is not meant to serve as investment, tax, or legal advice. Because this financial calculator cannot know your individual circumstances, you should consult an insurance, investment, tax, or legal professional if you would like more personal and comprehensive advice.

In addition, your financial picture will likely change over time; therefore, it would be prudent to review your financial strategy periodically to ensure that it continues to fit your then-current circumstances. All examples are hypothetical and are intended for illustrative purposes only.


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