Mortgage Refi Savings CalculatorReference mortgage savings calculator
This calculator determines how much interest rate funding you can cut back on and whether you should fund your mortgage. It also calculates the number of month to reach the break-even point in acquisition cost with your discounted montly payments. If you change any value in the following forms field, the system immediately makes available those calculation results for display as well.
Initial mortgage: A New Mortgage: Actual value of your house. Overall amount for your initial mortgage. Your initial mortgage's initial interest paid per year. This is the number of years for your initial mortgage. Mortgage insurance (PMI) costs per month. The PMI is calculated at 0.5% of your net borrowing value each year for credits backed by less than 20% decline, but may be higher or lower according to your borrowing and your rating.
This is the sum of the amounts you have paid on your initial mortgage. Your new mortgage's per cent per annum. Your new mortgage's number of years. Overall amount for your new mortgage that has been repaid. That amount corresponds to your actual amount on your initial mortgage. The acquisition cost and advance payment penalty are expected to be due at the date of acquisition.
The acquisition cost will not be added to your new mortgage net. Aggregate charges and other expenses related to the new mortgage that have been incurred at the date of conclusion. The calculator will assume that all acquisition expenses will be covered by income other than the new mortgage (the acquisition expenses will not be added to the sum of your new mortgage amount).
Amount of credit split by the estimated value of your house. The information and interacting calculator are provided to you as self-help tool for your own use and are not meant to be a substitute for financial counsel.