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Refinance Your Mortgage for Interest Savings
This calculator helps you find out just how much interest you can save if you refinance your mortgage! Enter the specifics about your current mortgage, along with new loan amortization, rate and closing costs. We will then determine how much interest refinancing can save you.
- Enter all your monthly figures for each category where applicable.
These categories include credit card debt, auto loan debt, personal loans, real estate loans. We’ve included three additional loan options in case we missed any. Be sure to include the appropriate interest rate and term length for each category. - Enter the details of the new consolidated loan you are considering. Include details such as the loan balance of your new consolidation loan, the monthly payment amount you can reasonably pay, the interest rate or Annual Percentage Rate (APR) and the term of your loan, in months.
Refinance Interest Savings Calculator
Total amount for your original loan.
Annual percentage rate of your original loan.
The total number of months for your original loan.
Current monthly principal and interest payment.
Annual percentage rate of your new loan.
The total number of months for your new loan.
Total amount for your new refinanced loan. This amount is equal to your current balance on your original loan. Closing costs and prepayment penalties are assumed to be payable at the time of closing. Closing costs are not added to your new loan balance.
Total fees and other costs associated with the new loan and paid at the time of closing. This calculator assumes that all closing costs are paid with proceeds other than the new loan (closing costs are not added to the total for your new loan amount).
New monthly principal and interest payment.
* Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues
Your goals are closer than they appear and a home equity loan can get you to the finish line.
We’re putting our money where our mouth is. Get the lowest rate on your home equity Loan from Capital Direct®, or we’ll give you $500.
