Note: When entering numbers into the data fields
only use numbers and applicable decimal points. Entering commas, dollar
signs, or any other non-numeric characters will cause an error. |
| Enter the principal balance of your mortgage:(call your mortgage lender and ask for the current payoff amount) |
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| Enter the amount of your monthly mortgage payment: |
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| Enter your mortgage’s current interest rate: |
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| Enter interest rate you will be refinancing at: |
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| Enter the number of years you will be refinancing for: |
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| Enter the closing costs : (Typically, # of points is “2” or dollar amount is .02 times the principal) |
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| Would you like to finance the closing costs? |
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| This is how much your monthly payment will be if you refinance: |
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| Monthly Payment Reduction: |
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| # of months for interest savings to offset closing costs: |
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| This is how much interest you will pay under your current monthly payment plan: |
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| This is how much interest you will pay under your refinanced monthly payment plan: |
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| This is how much interest you will save if you refinance: |
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Net Refinancing Savings (interest savings less closing
costs): |
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