Original term of your loan: Years Months
Your original loan amount: $
Your current loan balance: $
How long you have had this loan: yrs. mos.
Your current interest rate: %
Your new loan amount: $
Your new mortgage term: Years Months
Your new interest rate: %
Your estimated closing costs: %
How long you plan to stay after refinancing: years
Existing Loan Payment Amount: $ *
New Loan Payment Amount: $ *
Savings/Loss from difference in monthly payments: $
Amount saved over years due to decreased payment amount: $
* Monthly payment amount includes principal and interest only. Monthly taxes and insurance are not included
Principal reduction of existing loan after years if you DO NOT refinance: $
Principal reduction of new loan after years if you DO refinance: $
Savings/Loss from difference in the principal reduction after years: $
$ (Closing costs including discount points)
$ (I + II minus III)
Loading the latest rates from Freddie Mac's Primary Mortgage Market Survey®
