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Should I Refinance?
Use this calculator to determine if refinancing is the right option for you. Estimate the amount of money refinancing your mortgage could save you by comparing your current loan with different variables on a new loan including interest rates, loan terms, cash out, etc.
Should I Refinance?
Use this calculator to determine if refinancing is the right option for you. Estimate the amount of money refinancing your mortgage could save you by comparing your current loan with different variables on a new loan including interest rates, loan terms, cash out, etc.
Current Loan
$
%
New Loan
$
$
$
$
%
Old Payment:
$389
New Payment:
$350
-$39
Current Loan:$1,882
New Loan:$1,692
Your monthly payment will decrease $189 per month.
Current Loan Remaining Interest:
$70,298
New Loan Interest:
$71,126
$828
Current Loan:$340,271
New Loan:$344,281
You will pay $4,009 more in interest fees over the life of the loan.
Refinance Costs:
$1,033
Time to Recoup Fees:
5.5 mos
It will take you 26.4 months to recoup the cost to refinance.
Created with Highcharts 10.1.0YearTotal Saved Payment ($)202620282030203220342036203820402042204420462048205020522054-10k010k20k30k40k50k60k