Consolidation and Refinancing Calculator

This calculator will help you to decide whether or not it would be advantageous for you to refinance either a single mortgage, or the consolidation of a first and second mortgage, into a single mortgage.

Not only will this calculator calculate the monthly payment and net interest savings (if applicable), but it will also calculate how many months it will take to break even on the closing costs (if applicable).

Note: Be sure to only include the principal and interest portion of your monthly mortgage payment, i.e., do not include any escrow portions (property taxes, insurance, etc.).

First Mortgage

Second Mortgage (Optional)

Refinancing

Enter the closing costs

Would you like to finance the closing costs?

This is how much your monthly payment will be if you refinance:

Monthly payment (decrease)/increase:

Number 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):

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While significant efforts have been made to ensure the calculators on this page are accurate, accuracy is not guaranteed. Results received from the calculators are estimates designed for comparative and educational purposes only. Unless otherwise stated, payment estimates do not include taxes and insurance and the actual payment obligation may be greater. This is not a commitment to lend. Please contact First Heritage Mortgage, LLC directly to get the figures most accurate for your particular situation.