Fishing on Lake Speculator, NY Balloon Festival, Glens Falls NY Replica of the Half Moon, Hudson River, Albany Cross country skiing in the Adirondack Mountains Saratoga Race Track Center for Environmental Sciences and Technology Management (CESTM) State University at Albany Albany New York skyline
TechValley Homes Real Estate
Saratoga County
1733 Route 9
Clifton Park, NY
T (518)371-1940
F (518)371-4692		 Delmar
267 Delaware Ave
Delmar, NY
T (518)439-5140
F (518) 439-7829		 Loudonville
475 Albany Shaker
Loudonville, NY
T (518)435-9944
F (518)435-9966
Toll free (877) ALB-7356
info@techvalleyhomes.com
Search MLS Browse the TechValley Homes listings Send a Listing Inquiry to TechValley Homes Open Houses at TechValley Homes
TechValley Homes - Sellers Center
TechValley Homes - Buyers Center
TechValley Homes - Financial Center
TechValley Homes - Relocation Center
TechValley Homes - Our Company
TechValley Homes - Agent Directory
TechValley Homes - Careers
TechValley Homes - Newsletter

Refinance Interest Savings - Should You Refinance?

How much interest can you save if you refinance your mortgage? This 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. This will determine how much interest refinancing can save you. In addition, it will calculate the number of months to breakeven on closing costs with your reduced monthly payment. Click the "View Report" button for a detailed look at the results.

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 mortgage.
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 homeowner's 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 Principal, Interest, Taxes and Insurance payment.
New rate
Annual percentage rate of your new mortgage.
New term
The total number of years for your new mortgage.
New mortgage balance
Total amount for your new refinanced mortgage. This amount is equal to your current balance on your original mortgage. Closing costs and prepayment penalties are assumed to be payable at the time of closing. Closing costs are not added to your new mortgage balance.
Closing costs
Total fees and other costs associated with the new mortgage and paid at the time of closing. This calculator assumes that all closing costs are paid with proceeds other than the new mortgage (closing costs are not added to the total for your new mortgage amount).
New PITI
New monthly Principal, 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 cannot 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.
 
Home Search MLS Our Listings Sellers Buyers Financial Relocation Contact Us
Member of
Tech Valley

REALTOR® -- A registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics. Inquiries regarding the Code of Ethics should be directed to the board in which a REALTOR® holds membership.


Copyright © 2001-2004 TechValley Homes Real Estate, LLC. All information provided is deemed reliable but is not guaranteed and should be independently verified. Privacy statement