312 South East 17th Street, Second Floor
Fort Lauderdale, Florida 33316
Telephone: 954-767-0826


 

This calculator will help you to decide whether or not you should refinance your current mortgage at a lower interest rate. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even on the closing costs.
Enter the principal balance of your mortgage:
(call your mortgage lender and ask for the current payoff amount)
Enter the amount of your monthly mortgage payment:
(principal and interest portion only)
Enter the your mortgage's current interest rate:
Enter interest rate you will be refinancing at:
Enter the number of years you will be refinancing for:
Enter the closing costs that will be required for refinancing:
This is how much your monthly payment will be if you refinance:
Monthly Savings:
Number of months to break even on closing costs:
This is how much interest you will pay under your current monthly payment plan:
This is how much interest you will pay under your refinanced monthly payment plan:
This is how much interest you will save if you refinance:
Net Refinancing Savings (interest savings less closing costs):



 

In order to enjoy the benefits of ownership, you want your property to be free from debts or obligations and be able to sell or pledge your property as security for a loan. Lawyers Land Title Company will be there to serve your needs long after your purchase or loan.

For your next purchase, loan, or refinance, insist on using a Title Company with established credentials, reputation, and financial history.

Loan Type Rates Points
30 year fixed 5.10 .7
15 year fixed 4.83 .7
Arm 5/1 5.57 .7
1 year Arm 4.85 .5
Updated 1/5/2009 9:20:08 AM
 
 
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