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Preeti Rao - Real Estate Broker in Brampton, Toronto, Mississauga

Mortgage Refinancing Calculator

This JavaScript calculator will help you to decide whether or not you should refinance your current ortgage at a lower interest rate. Not only will this calculator calculate the monthly payment and net nterest savings, but it will also calculate how many months it will take to break even on the closing costs.

Note: When entering numbers into the data fields only use numbers and applicable decimal points. Entering commas, dollar signs, or any other non-numeric characters will cause an error. Also please note that this calculator has been tested to work with Internet Explorer 3.01 and Netscape Navigator 3.01 web browsers. However, both must have the JavaScript option turned on.

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:
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:
(If you’re not sure, multiply your current balance owed by .02 )
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):

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ABOUT US

  • About Preeti Rao – Real Estate Broker in Toronto, Mississauga, Brampton

    PREETI RAO owes her longevity and confidence to over a decade serving thousands of buyers and sellers of every set of needs throughout Toronto, Mississauga and Brampton’s thriving real estate markets – many of her deals stemming from productive repeat … Read more

INFORMATION DEEMED RELIABLE, BUT NOT GUARANTEED. THE PROPERTY INFORMATION BEING PROVIDED IS FOR CONSUMERS' PERSONAL, NON-COMMERCIAL USE AND MAY NOT BE USED FOR ANY PURPOSE OTHER THAN TO IDENTIFY PROSPECTIVE PROPERTIES CONSUMERS MAY BE INTERESTED IN PURCHASING.

THE DATA RELATING TO REAL ESTATE FOR SALE ON THIS WEB SITE COMES IN PART FROM THE PARTICIPATING BROKERS.

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