Use this calculator to estimate the advantages or disadvantages of refinancing.

To use the calculator, enter the following information:

Input Information: Amount (of mortgage), Interest Rate (before and after refinancing), Length of mortgage (in years), number of Months paid, and number of Years Before You Sell.
Fees and Points: Points, Originations Fees and Closing Costs.
Your Tax Rates: Income Tax Rate and State Tax Rate.

Some information that the calculator will compute:

Total Benefit (Savings - Losses - Closing)
Tax Savings Losses
Total Interest Paid
Monthly Payment Savings

The calculator can also produce a PDF output file for download, and you can click the check box to view the Schedule Table for the time frame selected. The Schedule Table fields include: Number (of payment month), Interest, Principal, and Balance. It also shows totals for every field after each year of the mortgage.

Input Information
  Before Refinancing After Refinancing
Amount : ($)
Interest Rate : (%) (%)
Length : (Yrs) (Yrs)
Months Paid : (Mts)
Years Before Sell : (Yrs)
Fees and Points
Points : (%)
Origination Fees : (%)
Closing Costs : ($)
Your Taxes Rates
Tax Rate : (%)
State Tax Rate : (%)
 Let Me Print That Form in PDF!

Financial Analysis
  Before Refinancing After Refinancing
Monthly Payment : $1,304.12 $1,111.94
Total Monthly Payments : $78,247.10 $66,716.40
Monthly Payment Savings : $11,530.70
Total Interests Paid : $51,307.55 $45,362.59
Tax Savings : $15,905.34 $14,062.40
Tax Saving Losses : $1,842.94
Balance at Refinance : $228,745.59
Points Value : $2,287.46
Refinance amount : $228,745.59
Balance at Sale : $201,806.04 $207,391.78
Balance Losses : $5,585.74
Total Losses : $7,428.68
Total Closing Costs : $3,487.46
Total Savings : $11,530.70
Total Benefit
(Savings - Losses - Closing) :
$614.57

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