Welcome to the CIS525 Refinance Calculator

This tool will help you decide if you should refinance your mortgage.

Existing Loan Information
What is your current remaining Mortgage Amount   $
How many months until the mortgage is paid off?   Months
What is the current interest rate on your mortgage?   %

New Loan Information
Over what period will you finance your new loan?  
What interest rate will your new loan be?   %
How much will your closing costs be? ($2,000 typical)   $

The Refinance Calculator Suggests:
The formula can be found here
This tool assumes a conventional loan with monthly compounded interest.