Refinancing Calculator

Whenever interest rates drop, the appeal of refinancing your mortgage grows. But it's important to know the real costs -- and potential savings -- before making a move. To use the worksheet, JavaScript must be enabled on your browser.

Instructions. Just fill in the non-colored boxes with the requested information. As you tab or mouse-click through the boxes, your results will appear automatically in the colored boxes. You can change any of your entries, in case you want to try several different scenarios, but you must tab or mouse-click to another box to update your results.

Information on your CURRENT mortgage
What was the month in which this mortgage originated?
What was the year in which this mortgage originated?
What was the original amount of this mortgage?
What is the term of this mortgage?	year
What is the interest rate?
Information on your NEW mortgage
What is the mortgage amount? (The value at right is the calculated amount you currently owe)
What is the term of this mortgage?	year
What is the interest rate?
What are your estimated closing costs, including any points paid upfront?

The Results
Your current monthly payment is
Your new monthly payment will be
If you refinance now, your monthly payments will be reduced by
It will take this long to "break even," or recover closing costs on the new mortgage

Mortgage analysis	CURRENT Loan	NEW Loan
Number of payments made so far
Number of remaining payments at refinance date
Total interest paid as of refinance date
Total unpaid interest at refinance date

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TaxLand, Inc. has been providing accounting services in the New York (NY), Long Island communities of Nassau County, Queens County, Metropolitan New York Area, Brooklyn, Bronx, Staten Island, Manhattan, Suffolk County, Westchester, Kings County, New Jersey (NJ), Florida (FL) , North Carolina (NC), Virginia (VA), Washington DC (DC), Massachusetts (MA), Pennsylvania (PA), Connecticut (CT), California (CA), Oregon(OR), Ohio (OH), South Carolina (SC), Delaware (DE), Maryland (MD),

Within these states, especially Long Island, New York (NY) we frequently service Addisleigh Park, Albany, Albertson, Alexandria, Allendale, Alpharetta, Amityville, Andover, Ardsley, Arlington, Arverne, Asharoken, Astoria, Atlanta, Atlantic Beach, Babylon, Baldwin, Baldwin Harbor, Baltimore, Bay Shore, Bayshore, Bayside, Bedford, Bedford Hills, Bedminster, Bellerose, Bellmore, Bessemer, Bethpage, Beverly Hills, Binghamton, Blackstone, Blakeslee, Bloomfield, Boca Raton Florida (FL) , Bohemia, Bound Brook, Boynton Beach, Branford, Brentwood, Briarwood, Bridgehampton, Bridgewater, Broad Channel, Bronx, Bronxville, Brookline, Brooklyn, Brookville, Brookville, Calabasas, Caldwell, Cambria Heights, Candor, Carle Place, Carmel Valley, Cedar Grove, Cedarhurst, Centereach, Centerport, Central Islip, Chappaqua, Cherry Hill (NJ), Chicago (IL), Cincinnati (OH), Clifton Park, Cold Spring Harbor, College Point, Columbia, Commack, Copaigue, Coral Springs (FL), Coram, Cornwall, Cortlandt Manor, Cos Cob, Cranbury, Crown Point, Crystal Beach, D' Abadie, Dallas (TX), Danville, Darian, Deer Park, Delray Beach (FL), Deltona, Denver (CO), Derby, Des Moines, Dix Hills, Douglaston, Durham, East Brunswick, East Elmhurst, East Fairfield, East Farmingdale, East Flatbush, East Hills, East Islip, East Meadow, East Northport, East Norwich, East Patchougue, East Rockaway, East Rockaway, East Rutherford, East Williston, Elizabeth, lmhurst, Elmont, Englewood, Essex Falls, Far Hills, Far Rockaway, Farmingdale, Farmingville, Flemington, Floral Park, Floral Park Village, Florham Park, Flushing, Forest Hills, Fort Lauderdale, Fort Lee, Fort Myers (FL), Franklin Lakes, Franklin Square, Frederick, Freehold, Freeport, Fresh Meadows, Ft. 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