Refinance Interest Savings

With this refinance you will INTEREST_SAVINGS_MSG.

Over the life of your new mortgage your total interest paid will INTEREST_SAVINGS and your monthly payment will MONTHLY_SAVINGS per month. BREAK_EVEN_IN_MSG

Refinance Results
Remaining interest on current mortgage REMAINING_INTEREST_ON_CURRENT_MORTGAGE
Interest on new mortgage INTEREST_ON_NEW_MORTGAGE
Interest payments Interest paid will INTEREST_SAVINGS.
Monthly payment Payment will MONTHLY_SAVINGS per month.
New loan to value NEW_LOAN_TO_VALUE
Breakeven BREAK_EVEN_IN_MSG

Refinancing will change your monthly payment for principal, interest, taxes and insurance from CURRENT_PITI to NEW_PITI. Your new loan will be CURRENT_BALANCE at NEW_RATE for NEW_TERM years. Closing costs are estimated at CLOSING_COSTS. To avoid PMI payments on your new loan you need a loan to value ratio of REQUIRED_LTV or better. Your loan to value ratio is currently estimated at NEW_LOAN_TO_VALUE. Additional refinancing results are summarized below:

Loan New vs. Refinance Comparison

Home Information
Original mortgage ORIGINAL_LOAN_AMOUNT
Number of payments made NUMBER_OF_PAYMENTS_MADE
Current mortgage balance CURRENT_BALANCE
Annual property taxes ANNUAL_PROPERTY_TAXES
Annual home insurance ANNUAL_HOME_INSURANCE
Appraised home value APPRAISED_HOME_VALUE

 
Original Mortgage
New Mortgage
Mortgage amount ORIGINAL_LOAN_AMOUNTCURRENT_BALANCE
Interest rate ORIGINAL_RATENEW_RATE
Term in years ORIGINAL_TERM_IN_YEARSNEW_TERM
Payment (PI) CURRENT_PAYMENTNEW_PAYMENT
Payment (PITI) CURRENT_PITINEW_PITI
Monthly PMI MONTHLY_PMINEWMONTHLY_PMI

Payment Schedule
**REPEATING GROUP**

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.