Mortgage Refinancing 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.
Enter the principal balance of your mortgage:(call your mortgage lender and ask for the current payoff amount)
Enter the amount of your monthly mortgage payment:(principal and interest portion only)
Enter the your mortgage's current interest rate:
Enter interest rate you will be refinancing at:
Enter the number of years you will be refinancing for:
Enter the closing costs that will be required for refinancing:
This is how much your monthly payment will be if you refinance:
Monthly Savings:
Number of months to break even on closing costs:
This is how much interest you will pay under your current monthly payment plan:
This is how much interest you will pay under your refinanced monthly payment plan:
This is how much interest you will save if you refinance:
Net Refinancing Savings (interest savings less closing costs):
Type of Loan
*
Select One
Purchase
Purchase-signed contract
Refinance
Refinance - Cash Out
Debt Consolidation
Equity Line
Type of Property
*
Select One
Single Family Residence
Condo
2-4 Units
Home Value/Purchase Amount
*
Select One
250,000 and Under
225,000-250,000
250,000-275,000
275,000-300,000
300,000-325,000
325,000-350,000
350,000-375,000
375,000-400,000
400,000-425,000
425,000-450,000
450,000-475,000
475,000-500,000
500,000-525,000
525,000-550,000
550,000-575,000
575,000-600,000
600,000-625,000
625,000-650,000
650,000-675,000
675,000-700,000
700,000-725,000
725,000-750,000
750,000-775,000
775,000-800,000
800,000-825,000
825,000-850,000
850,000-875,000
875,000-900,000
900,000-925,000
925,000-950,000
950,000-975,000
975,000-1,000,000
1,000,000-1,025,000
1,025,000-1,050,000
1,050,000-1,075,000
1,075,000-1,100,000
1,100,000-1,125,000
1,125,000-1,150,000
1,150,000-1,175,000
1,175,000-1,200,000
1,200,000-1,225,000
1,225,000-1,250,000
1,250,000-1,275,000
1,275,000-1,300,000
1,300,000-1,325,000
1,325,000-1,350,000
1,350,000-1,375,000
1,375,000-1,400,000
1,400,000-1,425,000
1,425,000-1,450,000
1,450,000-1,475,000
1,475,000-1,500,000
1,500,000-1,525,000
1,525,000-1,550,000
1,550,000-1,575,000
1,575,000-1,600,000
1,600,000-1,625,000
1,625,000-1,650,000
1,650,000-1,675,000
1,675,000-1,700,000
1,700,000-1,725,000
1,725,000-1,750,000
1,750,000-1,775,000
1,775,000-1,800,000
1,800,000-1,825,000
1,825,000-1,850,000
1,850,000-1,875,000
1,875,000-1,900,000
1,900,000-1,925,000
1,925,000-1,950,000
1,950,000-1,975,000
1,975,000-2,000,000
2,000,000-2,250,000
2,250,000-2,500,000
2,500,000-2,750,000
2,750,000-3,000,000
3,000,000-3,250,000
3,250,000-3,500,000
3,500,000-3,750,000
3,750,000-4,000,000
Desired Loan Amount
*
EXISTING LOAN INFORMATION
Balance on 1st Mortgage
Monthly Payment
Balance of 2nd Mortgage
Monthly Payment on 2nd Mortgage
MY INFORMATION
First Name
*
Middle Name
Last Name
*
Street Address
*
City
*
State
*
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AR
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Zip
*
Home Phone
*
Work Phone
Cell Phone
Email Address
*
Credit
Select One
Excellent
Above Average
Fair
Below Average
Not Good
Co-Applicant/Spouse on Loan
Select One
Yes
No
(If Yes continue or if No drop down to Employment Information)
CO-APPLICANT/SPOUSE INFORMATION
First Name
Middle Name
Last Name
Street Address
City
State
-----
AL
AK
AZ
AR
CA
CO
CT
DE
DC
FL
GA
HI
ID
IL
IN
IA
KS
KY
LA
ME
MD
MA
MI
MN
MS
MO
MT
NE
NV
NH
NJ
NM
NY
NC
ND
OH
OK
OR
PA
RI
SC
SD
TN
TX
UT
VT
VA
WA
WV
WI
WY
Zip
Home Phone
Work Phone
Cell Phone
Email Address
Credit
Select One
Excellent
Above Average
Fair
Below Average
Not Good
MY EMPLOYMENT INFORMATION
Currently Employed
Select One
Yes
No
Monthly Income
CO-APPLICANT/SPOUSE EMPLOYMENT INFORMATION
Currently Employed
Select One
Yes
No
Monthly Income
How did you hear about us?
Select One
Rick Roberts 760 KFMB
John and Ken 640 KFI
AM Radio - 600 KOGO
AM Radio - Cash 1700
Online Search
Magazine/Newspaper
Referral
Referred by
I understand that the information provided by myself and or co-applicant to Anchor funding Inc does not constitute loan approval. I hereby authorize Anchor funding Inc to contact me via telephone or email.
Comments
Don’t let your mortgage payments go up -
click here to lower your payments
Feeling traditional -
Try our 30, 20 or 15 year fixed
In a cash flow crunch -
payoff credit cards and debt
FHA loans -
Do they help you?
Buying a home -
Up to97% financing
