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Calculators

Mortgage Refinancing 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 your mortgage's current interest rate:
Enter interest rate you will be refinancing at: (Example 1% = .01)
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):

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Licensing and Registration

Bay Equity LLC is an Equal Housing Lender.

Notice: This is not a commitment to lend or extend credit. Restrictions may apply. Rates may not be available at time of application. Information and / or data are subject to change without notice. All loans are subject to credit approval. Not all loans or products are available in all states. Equal Housing Lender. Loans will be made or arranged pursuant to Department of Corporations California Finance Lenders Law License. Bay Equity LLC License #605-3919, NMLS ID#76988/ OR Branch License #238915.

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