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Should I refinance ?
Current Mortgage Information

Loan Amount ($)
Current Rate (%)
Years Already Paid (Yrs)
Current Loan Term (Yrs)

Additional information
Federal and state tax (%)

Years Before Sell
Refinance Information

Balance at Refinance ($)
Interest Rate (%)
Loan Length (Yrs)
Loan Points
Loan Cost ($)


Results
Payment Analysis Financial Analysis
Current Payment : $567.79 Bal at Sale : $82,540.99
Refinance Payment : $636.87 Refi Bal at Sale : $87,252.22
Monthly Savings : $0.00 Refinansing Total Costs : $1,916.00
Total Monthly Savings: $0.00 Tax Return Savings: $3,995.35
Balance Losses: $-4,711.23
Total Savings: $-2,631.87

Instructions
Enter current mortgage, home, and refinance information. This calculator analyzes the total cost and savings of your refinance transaction as well as principal balance when you sell your home and break even periods.

Explanation
Based on your current and calculated mortgage payments, this calculator figures your monthly savings. It also compares your principal balance in 5 years with and without refinancing. Based on your total cost to refinance, a break even period is calculated in relation to your monthly savings. The time value of money and income tax deductions are not considered in this refinance calculation.

Disclaimer: We cannot guarantee the accuracy of this calculator. You should check with your finance provider before entering into any contracts.
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