×
General Help: Refinancing
This calculator helps you estimate savings from refinancing your mortgage. Enter your data to see potential reductions in payments and total interest.
Field explanations:
- Original Loan Amount: The initial amount borrowed for your mortgage (e.g., 200000).
- Old Interest Rate: Your current interest rate in percentage (e.g., 5.5).
- Old Loan Term: Select the original duration of your loan in years.
- Amount Already Paid: The total amount you've paid so far on the loan (e.g., 50000).
- New Interest Rate: The proposed new interest rate in percentage (e.g., 4.0).
- New Loan Term: Select the new duration for the refinanced loan in years.
- Estimate Closing Cost: The estimated fees to close the new loan (e.g., 3000).
If you need more help, contact us.
