| 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: |
|
| Enter the 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 that will be required for refinancing: |
|
|
|
| This is how much
your monthly payment will be if you refinance: |
|
| Monthly Savings: |
|
| Number of months
to break even on 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): |
|
|
|