Refinance Mortgage
The Full Picture

What will the real effect of a refinance mortgage be? Is it really going to save you money or are you sacrificing a good chunk of equity for the sake of saving a few dollars every month.

Mortgage Refinance
This will help you to decide whether or not you should refinance your current mortgage at a lower interest rate. Not only will this tool calculate the monthly payment and net interest savings, but it will also compute 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 & Interest Only):
Enter 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 : (Typically, # of points is "2" or dollar amount is .02 times the principal)
Would you like to finance the closing costs?

This is how much your monthly payment will be if you refinance:
Monthly Payment Reduction:
# of months for interest savings to offset 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):

Quicken Loans is one of the nation's largest home mortgage lenders and was named "Best of the Web" by Forbes, Money and PC magazines.

Quicken Loans offers over 100 loan programs for purchase, refinance and home equity. Their process is quick and easy. You can apply online in minutes. You can even sign your application and track the process of your loan online.

Nearly 20 years experience
Direct lender in 50 states
Great rates
Fast, easy, minimal paperwork

Find out that "The Easiest Way To Get A Home Loan" is with Quicken Loans, a name you trust.

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Refinance Mortgage The Full Picture

Mortgage Refinance

Refinance Mortgage
The Full Picture