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Refinance Calculator
Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Appraised home value: Current market value of your home.
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.
Number of payments made: The total number of payments you have made on your original mortgage.
Total interest: Total of all interest paid over the full term of the mortgage. This total
interest amount assumes that there are no prepayments of principal.
Annual property taxes: Your annual property taxes.
Annual home insurance: Your annual homeowner's insurance premium.
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.
Current PITI: Current monthly principal, interest, taxes and insurance payment.
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 cost: 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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Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. |
