Consolidation And Refinance Mortgage Calculator

The Amortizing Loan Calculator will allow you to enter the monthly mortgage payment to figure out or calculate the loan amount. On the other hand, you can also enter the loan amount and the Amortizing Loan Calculator will calculate the monthly mortgage payment.

Looking for more personalized rates? Compare rate quotes from lenders and brokers, then return to our Amortizing Loan Calculator.

How much to save by consolidation and refinance
You will be able to find out the interest savings over the life of the mortgage when you consolidate your first and second mortgages and refinance into a single loan. You can also calculate the time period over which the interest savings can offset closing costs.
	First Mortgage	Second Mortgage (Optional)
Balance Loan Amount ($)
Monthly Payment (Principal and Interest only)
Mortgage Rate (% per annum)
Refinancing
Mortgage Refinancing Rate (% per annum)
Years you will be Refinancing for
Closing Costs percentage pointsdollar amount
Looking to finance the Closing Costs	NoYes
Should I consolidate my first and second mortgage and refinance into a single mortgage?
New Monthly Payment
Monthly Payment Amount [(Decrease)/Increase]
Periods for Interest Savings to cover Closing Costs (Months)
Total Current Interest you are paying
Total Interest you need to pay after refinance
Total Interest you will save if you refinance
Net Refinancing Savings (Interest savings less closing costs)

More Information

An amortization schedule for a mortgage helps a borrower see how the monthly mortgage payments that they make are applied to their principal balance of the mortgage, and how much is applied toward the interest paid on the mortgage. An amortized mortgage has equal monthly mortgage payments, so when the term of the mortgage comes to end the mortgage is paid in full. For example, a 30-year fixed mortgage is amortized over a 30-year period so that the equal monthly payments paid over the 30 years will pay off all of the interest and principal balance of the mortgage so that the remaining balance is $0.