Decide if you should refinance and save money by comparing your current home loan, interest rate, term length, and monthly payment.
Current Mortgage
New Mortgage
Refinance and you can save $XXX a month.
You can also save $XXX over the life of your loan.
A refinance will make your monthly payment increase by $XXX .
But, you can save $XXX,XXX over the life of your loan.
Refinancing can help you save $XXX a month, but you’ll be spending $XXX,XXX more over the life of your loan. Ask yourself what’s most important: short term or long term savings.
It is not the right time for a refinance.
Your monthly payments would increase by $XXX , and you’d be looking at a long term loss of $XXX,XXX .
Original Payment*
/mo
New Payment*
/mo
Monthly Savings
/mo
*Includes principal and interest only.
Lifetime Savings
Payoff Schedule

Refinance your loan today!

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Amortization Graph

You will save $XX,XXX on the interest of the loanYou will owe $XX,XXX more on the interest of the loan with an payoff schedule of .
ANNUALLYMONTHLY

Calculator Definitions

Original Loan Amount

The original amount borrowed from a lender to obtain a mortgage loan. This represents the total mortgage amount including fees, points, etc… as stated on the closing disclosure.

Payoff Schedule

The amount of time saved on the current loan schedule by making additional payments toward the principal mortgage balance.

Loan Term

The amount of time (usually expressed in years) in which a borrower is required to make monthly payments toward a home loan.

Interest Rate

The annual cost to borrow money from a lender based on a percentage of the loan amount. Interest rates exclude mortgage "points" and fees charged to get the loan.

Lifetime Savings

Your lifetime savings is an estimate of the amount of money you may save over the life of your loan should you choose a new mortgage.

Additional Principal Payment

Extra payments applied to the mortgage above the monthly requirement. These payments are typically used to settle existing late charges or fees before being applied to the principal.