Calculators provided by American Bank

Mortgage Refinance Calculator

This calculator will compare your current monthly mortgage payments to your anticipated new monthly payment including the costs of refinancing. It will also give you an approximate number of months you would need to stay in your home to earn the money back which you invested in refinancing. This amount of time would vary with interest rates.

This calculator is provided to give you a general idea of your payment based on the variables you enter (loan amount, interest rate, term, etc.).

 

The principal balance of your mortgage is:
(call your lender for current payoff)
The amount of your monthly mortgage payment P+I:
(Principal and Interest Payment Only)
Your mortgage's current interest rate is:
Your new interest rate:
 Your new term i.e 15, 30 Years:
Enter the estimated closing costs that will be required for refinancing: 
 

Estimated Results

Your new monthly principal and interest if you refinance is:
Your monthly savings will be:
Months to break even on closing costs is:
Your current interest is:
Your refinanced interest will be:
How much interest is saved if you refinance?
Net refinance savings: