480-839-5335

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



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):
testimonials
" Dear Susan and Michael,
It has been a pleasure working with you.  You are so friendly and personable yet, at the same time, very professional and detail oriented.  You two make a super team. We always felt comfortable and in safe and concerned hands.  We told the notary who did our signings about you so expect a call from Teresa. Thanks for making our refinance such an easy experience. "
Sandi and Larry
" When it comes to buying or refinancing real estate, time is of the essence.  In all of my years in real estate, I have never been more satisfied than I was with the prompt and thorough service that Michael and Susan provided - prompt because they eliminated unnecessary delays; thorough because they helped me to see the larger picture before focusing in on my financing options.  They guided my loan through the wilderness of tight credit, finding the best rate and most flexible financing available, and I was kept informed of their progress every step of the way.  We closed without a hitch, which is remarkable these days.  If you need a loan, I don't think you can find better, more competent people."
Stacy Greenspan
"We recently refinanced our house in Denver. We have bought and sold a number of properties, and done other refinancing, but never before have we worked with such competent and capable people. Everyone we worked with was friendly and very knowledgeable, not just about our loan but about helping us find the product and rate right for us. From the minute we called for advice, through the application process, until the closing, we were so impressed with their skill and breadth of knowledge with all aspects of obtaining a mortgage. They were able to process our application very quickly, which allowed us to be positioned to move when appropriate. They kept us updated regularly with the rates, and helped us decide when the best time was to lock in. Not only are they wonderful to work with, we were so impressed with everyone they are associated with, from the appraiser, to the gentleman that came to our house for the closing on a Saturday morning(our choice), to the underwriter of our loan. If you choose to work with Interstate Mortgage Service, you are truly in the best of hands. "
Susan Schilling MD