Refinance check

Here's a quick way to calculate whether you need to refinance.

This calculator uses fixed rates only because adjustable rate mortgages provide for interest rate and payment changes throughout your loan. See a loan officer for help calculating what you may save with a new ARM, and for help with today's interest rate.

Current monthly mortgage payment
Outstanding loan amount
Amount of your monthly payment for taxes and insurance
(Check your monthly mortgage bill or other loan documents; remember to include private mortgage insurance if applicable.)  
Number of years you'd like to finance
Interest Rate
Your approximate new monthly payment would be
The number of years of living in your home for refinancing to pay for itself
(based on average closing costs of $1,400 plus points, depending on your area and loan size)
Remember, closing costs can often be financed into the loan amount.