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Loan Refinance Calculator

Estimated Current Value: $
Current Mortgage Balance: $
Number of Payments Remaining:   
Current Monthly Payments: $
Estimated Closing Costs: $
Amount of Cash Out: $
Current Refinance Interest Rate:   %
Terms of Refinance Mortgage (in years):   
Financial Terms:
Estimated Current Value of Home is the estimate of the property value of the property that you want to refinance.
Current Mortgage Balance is the pay off amount of the mortgage you have presently.
Number of Payments Remaining is the number of payments you must make before your present mortgage is payed off.
Current Monthly Payments is the amount you are currently paying a month, on your mortgage.
Estimated Closing Costs is the amount you estimte your refinanced mortgage closing costs will be.
Amount of Cash Out is the amount of equity you'd like to recieve as cash, at closing (NOTE: this can significantly alter the final amount of the mortgage and your monthly payments.)
Loan-To-Value Ratio (LTV) is the ratio of your house value to the amount you are attempting to finance. (LTV = Loan Amount/Value of Home) If this ratio is too high you will not be able to take the Cash Out option, and may be required to acquire mortgage insurance.
Current Refinance Interest Rate is the current rate your financial institution is charging in interest for mortgage refinancing.
Term of Refinance (in years) is the number of years you would like to take to repay this mortgage loan.


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