Best Lender Finder - Mortgage Consolidation Calculator

The 2 minute solution to finding the best lender

Client Login

Refinance

Mortgage Consolidation & Refinancing Calculator V1

This calculator will help you to decide whether or not it would be advantageous for you to consolidate a first and second mortgage and refinance into a single mortgage with 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.

Note: Be sure to only include the principal and interest portion of your monthly mortgage payment, i.e., do not include any escrow portions (property taxes, insurance, etc.).

First Mortgage
Enter the principal balance of your first mortgage:
Enter the amount of your monthly mortgage payment:
Enter your first mortgage's current interest rate:

Second Mortgage
Enter the principal balance of your second mortgage:
Enter the amount of your monthly mortgage payment:
Enter your second mortgage's current interest rate:

Refinancing
Enter interest rate you will be refinancing at:
Enter the number of years you will be refinancing for:
Enter the closing costs ($):
Would you like to finance the closing costs?

Monthly payment will be if you refinance:
Monthly Payment Reduction:
Amount interest you will save if you refinance:
Net Refinancing Savings: