Should you Refinance your loan?
This calculator will help you decide whether or not you should refinance your current mortgage at a lower interest rate. It will also show you how many months it will take to break even on your closing costs.
$	What is the balance, or payoff amount, on your current mortgage?
$	What is your current monthly mortgage payment?
%	What is the interest rate (percentage) of your current mortgage?
%	What is the interest rate (percentage) of the new mortgage?
	How many years will you refinance the mortgage for?
$	What are your refinance closing costs?
	This would be your new monthly payment if you refinance.
	This is the amount of money you will save per month.
	How many months to break even on closing costs.
	Total interest you will pay under your refinanced loan.
	Amount you will save in interest if you refinance at the lower rate.
	Net refinance savings. (interest savings less closing costs).
Refinance Details: