$
each month
$
in interest over the life of the loan
You can shorten your term by up to
Saving
$
in interest payments
by refinancing and continuing current payments.
Switch to cash savings to see if refinancing makes sense.
Savings over time
(total interest saved - cost of refinancing)
Year 1 $0
Breakeven in
Interest paid over time
Current Loan
New Loan with Early Payoff
Total Saved
Current Mortgage
Current Balance
Current Interest Rate
Monthly Payment
Payoff Date
Total Interest
New Mortgage
Refinanced Loan Amount
Refinanced Interest Rate
Monthly Payment
Payoff Date
Total Interest
Interest Savings
Refinance Fees
New Monthly Payment:
Loan amount
Cash out
Cash in
Refinance fees
Roll Fees Into New Loan?
Total loan amount
Interest rate
Loan term
Monthly savings
Timeframe
Total Interest Savings
This is the sum of all the interest you will save over the life of the loan after refinancing.
Year 1 $0
Monthly Savings Breakdown
Current
New
Savings
$1,703
-
$3,065
=
-$1,362
Amortization Schedule Breakdown
Our detailed amortization schedule breaks down your mortgage payments, showing how they are split between interest and principal over the life of your loan.
Note: The actual monthly payment may be higher than what is shown here, as this schedule does not account for variable costs such as property taxes and home insurance, which are often included in your total mortgage payment.
- Principal payments: (the amount borrowed)
- Interest payments: (the cost of borrowing)
Payoff Savings Breakdown
This is the interest and time savings you will achieve by refinancing and continuing current payments.
Interest Savings
$
Time saved on mortgage
Total interest (original)
$
Total interest (with current payments)
$
Principal + Interest (original)
$
Principal + Interest (with current payments)
$
Original payoff date
New payoff date
Amortization Schedule Breakdown (With current payments)
Our detailed amortization schedule breaks down your mortgage payments, showing how they are split between interest and principal over the life of your loan.
Note: The actual monthly payment may be higher than what is shown here, as this schedule does not account for variable costs such as property taxes and home insurance, which are often included in your total mortgage payment.
- Principal payments: (the amount borrowed)
- Interest payments: (the cost of borrowing)
