Total interest saved over life of loan. Values are in green for positive and red for negative.
Total interest paid on new loan over the life of the loan.
Total interest paid on current loan over the life of the loan.
Interest saved over current loan during recoup period. Displays (NA) if the payment on new loan is greater than the existing. Values are in green for positive and red for neg.
Interest paid on new refinance loan during recoup period. Displays (NA) if the payment on new loan is greater than the current loan.
Interest paid on original loan during recoup period. Displays (NA) if the payment on the new loan is greater than the current loan.
Number of months it would take to recoup loan costs based upon payment difference. Displays (Not Good) if the payment on the new loan is greater than the current loan.
Difference between current payment and payment on new loan. Values are in green for positive and red for negative.
Enter the total of ALL of your combined loan costs to refinance.
This field will display the new payment based upon the new loan balance, rate, and number of months.
Enter the number of months for your refinance loan.
Enter the new rate on your refinance loan.
Enter the new loan balance you are refinancing.
This field should display your current payment (after you press the Calculate button). If not double check the loan balance, interest rate and months figures.
Enter how many months left on your current loan.
Enter the interest rate on your current loan.
Enter the loan balance on your current loan.
Move the cursor (hand) over the field labels to display tips.