Mortgage Financing

This calculator will help you to decide whether or not you should refinance your current mortgage at a lower interest rate. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even on the closing costs.

(call your mortgage lender and ask for the current payoff amount)
Closing costs
(Typically, # of points is "2" or dollar amount is .02 times the principal)