(734) 392-8300 APPLY HOME PURCHASE REFI TOOLS CONTACT US DOWN PAYMENT ASSISTANCE FHA VA USDA LOANS TESTIMONIALS REFINANCE ANALYSIS CALCULATOR Refinance Analysis Calculator 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. Principal balance of your mortgage: Amount of your monthly mortgage payment: Your mortgage's current interest rate: Interest rate you will be refinancing at: Number of years you will be refinancing for: Closing costs: Percentage Points Dollar Amount Would you like to finance the closing costs? No Yes Monthly payment will be if you refinance: $ 1,347.13 Your Monthly Savings will be: $ 652.87 Monthly Payment Monthly Payment Reduction If you refinance your current 4.00% mortgage to a 3.50% mortgage, your monthly payment will decrease by $652.87 and you will pay an additional $68,386.51 in interest charges over the life of the mortgage. This is how much your monthly payment will be if you refinance: $1,347.13 Monthly Payment Reduction: $652.87 # of months for interest savings to offset closing costs: 1 This is how much interest you will pay under your current monthly payment plan: $116,581.76 This is how much interest you will pay under your refinanced monthly payment plan: $184,968.26 This is how much interest you will save if you refinance: $0.00 Net Refinancing Savings (interest savings less closing costs): $0.00 Equal Housing Opportunity Arbor One Mortgage Group ™ 2021 Privacy Policy | Contact Us 250 W Eisenhower, suite 100 Ann Arbor, MI 48103 Arbor One Mortgage Group is a division of Mortgage One, Inc. NMLS#129386 Mortgage Website Marketing This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. TOP