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Financial Calculators from
Dinkytown.net

Financial Calculators ©1998-2015 KJE Computer Solutions, LLC









Refinance Interest Savings
About your home:
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[-]
$0k
$200k
$500k
$1m
$0
$1k
$10k
$100k
$0
$1k
$10k
$100k
Original Mortgage:
Press spacebar to show inputs
Monthly payment $1,892
[+]
$0k
$200k
$500k
$1m
0%
8%
16%
25%
1
10
19
40
$0
$500
$2.5k
$5k
1
120
240
360
New mortgage:
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Monthly payment $1,360
[+]
$198,488.08
0%
8%
16%
25%
1
10
19
40
$0
$1k
$10k
$100k
Please view the report to see detailed results in tabular form.
You could save $173,108.21 in interest
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[-]
Please view the report to see detailed results in tabular form.
Your payment will decrease $532.12 per month
press spacebar to show graph
[+]

Definitions

Appraised home value
Current market value of your home.
Annual property taxes
Your annual property taxes.
Annual home insurance
Your annual homeowner's insurance premium.
Original loan amount
Total amount for your original mortgage.
Original rate
Annual percentage rate of your original mortgage.
Original term in years
The total number of years for your original mortgage.
Monthly PMI
The amount you pay each month for PMI. This is usually between 0.5% and 2% annually of your loan amount if you have less than 20% equity in your home.
Number of payments made
The total number of payments you have made on your original mortgage.
New rate
Annual percentage rate of your new mortgage.
New term
The total number of years for your new mortgage.
New mortgage balance
Total amount for your new refinanced mortgage. This amount is equal to your current balance on your original mortgage. Closing costs and prepayment penalties are assumed to be payable at the time of closing. Closing costs are not added to your new mortgage balance.
Closing costs
Total fees and other costs associated with the new mortgage and paid at the time of closing. This calculator assumes that all closing costs are paid with proceeds other than the new mortgage (closing costs are not added to the total for your new mortgage amount).
New PITI
New monthly Principal, Interest, Taxes and Insurance payment.
New loan-to-value
Total loan amount divided by the appraised value of your home.

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