Instructions

Fill in the blanks below, then click Calculate to see your monthly payment and total interest for the existing loan and for the new loan. You will also see how many months it will take for the lower monthly payment to offset the cost of obtaining the new loan.

If you know the current balance of the existing loan, type in the amount. Otherwise, we will estimate your current balance, assuming that you have made the minimum payment each month.

Check Early payoff to see the effect of paying more than the minimum amount each month. An additional amount equal to one minimum payment is spread over the twelve regular payments each year. This pays off the mortgage in less time and saves you interest.