Warren Federal Credit Union Warren Federal Credit Union

Refinance Calculator

This JavaScript calculator will help you to decide whether or not you should refinance your current mortgage at a lower interest rate. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even on the closing costs.

Note: When entering numbers into the data fields only use numbers and applicable decimal points. Entering commas, dollar signs, or any other non-numeric characters will cause an error. Also please note that this calculator has been tested to work with Internet Explorer 3.01 and Netscape Navigator 3.01 web browsers. However, both must have the JavaScript option turned on.

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:
Enter your mortgage's current interest rate:
Enter interest rate you will be refinancing:
Enter the number of years you will be refinancing:
Enter the closing costs that will be required for refinancing:
(If you're not sure, multiply your current balance owed by .03 )

This is how much your monthly payment will be if you refinance:
Monthly Savings:
Number of months to break even on 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):

The accuracy of this calculator and its applicability to your circumstances is not guaranteed.
Results should be discussed with a qualified professional before any product purchases or loan commitments are made.

 

Warren Federal Credit Union PO Box 3200
Cheyenne, WY 82003
307.432.5400
800.368.9328 - Toll Free
ezmail@warrenfcu.com




 

Current Rates

Type Term APR
2004 or newer - up to $25,000 up to 60 months 6.25%
Home Equity Line of Credit As low as 6.00%
Recreational Vehicles As low as 8.00%

Annual Percentage Rates (APR) are based on approved credit and are subject to change

View All Rates

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