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1st Metropolitan's - Simple Mortgage Refinance Calculator

Should you refinance your mortgage? This simple calculator helps you find out! Enter the specifics about your current mortgage along with your current appraised value, new loan term, rate and closing costs. We will then determine the number of months it will take to break-even on your new mortgage.

This Financial Calculator requires a Browser with Java Support

Definitions

Appraised home value Current market value of your home
Original loan amount Total amount for your original mortgage
Original rate Annual percentage rate of your original loan
Original term in years The total number of years for your original mortgage
Number of payments made The total number of payments you have made on your original mortgage
Annual property taxes Your annual property taxes
Annual home insurance Your annual home owners insurance premium
Monthly PMI The amount you pay each month for PMI. This is usually your 0.5 percent of your loan amount, if you have less than 20% equity in your home
Current PITI Current monthly Principle, Interest, Taxes and Insurance payment
New rate Annual percentage rate of your new loan
New term The total number of years for your new mortgage
Closing costs Total fees and other costs associated with the new mortgage, and paid at the time of closing
New PITI New monthly Principle, Interest, Taxes and Insurance payment
New Loan to Value Total loan amount divided by the appraised value of your home


information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Current Interest Rates 1stMortgages - refinance specialists.


                                                                Toll Free: (800) 262-7866
 Making home loans simple - everyday ®
 

Apply Now