Time to Refinance?

Current Loan

Loan Amount
Monthly Payment

New Loan

Loan Amount
Monthly Payment

The decision to refinance a home mortgage can involve many factors. You might want to take cash out of your home at when you refinance to use for other purposes. But the most common purpose is to obtain a lower interest rate and lower monthly payments. In the latter case, the decision to refinance should be based on lowering the overall mortgage costs and breaking even on the refinance in a reasonable period of time.

This calculator is for illustrative purposes only, and is based on information you provided. Actual payment, interest rate, and loan amortization schedule will be determined at time of loan approval.