Debt Consolidation
Refinance Mortgage Loan
The single most popular reason to refinance a mortgage loan is to consolidate debt, and here we bring you a tool that will assist you in determining the consequence.

One important factor to consider in a debt consolidation is very often overlooked, is it's effect on the total interest that you will be paying in the long run. Have you considered that, or are you replacing short term loans with a long term one?

How old is your mortgage? How many years are you adding to the payments?

Debt Consolidation
Consolidating all of your debts into one lower interest loan can reduce your monthly payments.

Enter each one of the debts that you would like to pay off, along with their corresponding principal balances, interest rates, and monthly payment amounts. Once you have all your debts entered, make any desired changes to the "New Loan Information" default entries and then click on the "Calculate New" button.

Credit
Type		 Balance Payment Interest
Rate		 Annual
Fees
Additional Cash?
New Loan Information
Enter data about your planned New Loan with us (change any of the proposed numbers below).
Proposed interest rate (%):
Loan term:
Estimated closing costs ($):
Federal & state tax rate (%):
Results Current New Loan
Total debts:
Effective rate before taxes:
Effective rate after taxes:
Total monthly payment:
Monthly savings:
Annual savings:
Five year savings:
Ultimate Savings Report
What if you were to pay the same OLD payments instead of your NEW LOWER PAYMENTS... (which is your choice every month)... your monthly SAVINGS will reduce the loan principal each month, SHORTENING the loan itself... without ANY more costs than you used to pay.
Total years SAVED if same OLD payments are made on NEW loan:
Total years until "FREE & CLEAR" if savings are paid to principal:
TOTAL INTEREST SAVED over life of loan if savings are applied to principal:

   

 
     
     

 

 

 
Home          Terms of Use          Privacy Policy          Contact Us
MortgageCalculatorsandRates.Com © 2004-2005

[ Adjustable Rate and Fixed Rate Comparison | Adjustable Rate Mortgage | Bi Weekly Mortgage | Bi Weekly v. Monthly Payment | Credit Card Debt Averaging | Credit ]
 [ Debt Consolidation | Debt Consolidation Home Equity Line of Credit | Debt Ratio | Home Equity | Home Equity Line of Credit | Interest Only Mortgage Loan ]
[ Fixed Rate Mortgage | Debt Consolidation | Comparison | Payoff | Qualification | Qualifying Rate Comparison | Rates and Lenders | Refinance | Tax Benefit ]
[ Purchase and Refinance | Real Estate commission | Renter Affordability | Rent v. Own | News | Credit 2 | California Mortgage | Information | Information 2 | Directory ]
[ Terminology | Debt Investment w/ Amortization | Debt Investment, One Time | Credit Score ]