Mortgage Refinance Calculator

Enter the numbers below from your present and proposed mortgage.
Do not enter $ signs or "," in the numbers. Example: Enter 100000 not $100,000.  Just click in the boxes and change the example numbers to your numbers.

Balance of your current mortgage:  
Current monthly mortgage payment:  
Current mortgage's interest rate:  
Interest rate to refinance at:  
Number of years to refinance:  
Closing costs paid to refinance:
   
New monthly payment if refinanced:  
Monthly savings:  
Interest to pay under current mortgage:  
Interest to pay under new refinanced mortgage:  
Interest saved if refinanced and keep new mortgage to term:  
Net refinancing savings (interest savings minus closing costs):

NOTE: You can end up paying MORE in interest if you refinance a mortgage that is almost paid off over a new longer term, even if your payments per month are much lower.

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Arlena Enos, Realtors
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3181 Poplar Avenue, Suite 222  |  Memphis, TN 38111  |  Office: (901) 327-2416  |  Fax: (901) 683-0692   |  Home: (901) 761-4072