Mortgage Consolidation Refinancing Calculator


If you have a first and second mortgage you are considering consolidating you can use this calculator to figure how much you will save on your monthly payment & total interest savings if you refinance to consolidate your loans into a single loan. This calculator will also show how long it will take for you to break even on closing costs, though please only enter the principal and interest portion of the loans for accurate calculations. Including other expenses like property taxes, HOA fees, or homeowners insurance would throw off the calculations.

If you would also like to extract equity from your home please use our cash out refinancing calculator.

First Mortgage Info

Remaining balance on first mortgage:
Monthly first mortgage principal & interest payment:
First mortgage's interest rate (APR %):

Second Mortgage Info

Remaining balance on second mortgage:
Monthly second mortgage principal & interest payment:
Second mortgage's interest rate (APR %):

Mortgage Refinancing Info

Refinancing term in years:
Refinance interest rate:
Discount points :
Loan origination points :
Other closing costs:
Finance the closing costs?

Monthly Payment Changes

Refinance monthly principal & interest payment:
Monthly payment change:
Total closing costs:
Months for interest savings to offset closing costs:

Longterm Financial Results

Total remaining interest under current payment plan:
Total interest after refinancing:
Interest saved by refinancing:
Net refinancing savings (interest savings less closing costs):

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