Time to Refinance?

Current Loan
Loan Amount
Monthly Payment
New Loan
Loan Amount
Monthly Payment
Total Cost over Life of Loan
Current Loan New Loan
Total Interest
Total Principal
Total Cost of Loan

Next Steps:

The decision to refinance a home mortgage can involve many factors. You might want to take cash out of your home at when you refinance to use for other purposes. But the most common purpose is to obtain a lower interest rate and lower monthly payments. In the latter case, the decision to refinance should be based on lowering the overall mortgage costs and breaking even on the refinance in a reasonable period of time.