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Results |
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| Payment Analysis |
Financial Analysis |
| Current Payment : |
$567.79 |
Bal at Sale : |
$82,540.99 |
| Refinance Payment : |
$636.87 |
Refi Bal at Sale : |
$87,252.22 |
| Monthly Savings : |
$0.00 |
Refinansing Total Costs : |
$1,916.00 |
| Total Monthly Savings: |
$0.00 |
Tax Return Savings: |
$3,995.35 |
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Balance Losses: |
$-4,711.23 |
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Total Savings: |
$-2,631.87 |
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Instructions |
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Enter current mortgage, home, and refinance information. This calculator analyzes the total cost and savings of your refinance transaction as well as principal balance when you sell your home and break even periods.
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Explanation |
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Based on your current and calculated mortgage payments, this calculator figures your monthly savings. It also compares your principal balance in 5 years with and without refinancing. Based on your total cost to refinance, a break even period is calculated in relation to your monthly savings. The time value of money and income tax deductions are not considered in this refinance calculation.
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Disclaimer: We cannot guarantee the accuracy of this calculator. You should check with your finance provider before entering into any contracts. |