Refinance Interest Savings

How much interest can you save if you refinance your mortgage? This calculator helps you find out! Enter the specifics about your current mortgage, along with your current appraised value, new loan term, rate and closing costs. This will determine how much interest refinancing can save you. In addition, it will calculate the number of months to breakeven on closing costs with your reduced monthly payment. Click the "View Report" button for a detailed look at the results.

http://www.dora.state.co.us/real-estate/index.htm; DHI Mortgage Company, Limited Partnership (DE) 7687 (MN) 20187723 (WI) 32292; DHI Mortgage Company, Ltd. (FL) CL 0701136; (GA) Georgia Residential Mortgage License 13591 located at 60 Bushwood Dr., Pooler, GA 31322 (HI) MB803 (IL)Illinois Residential Mortgage License MB 0005470 located at 850 S. Milwaukee Ave, Libertyville, IL 60048 (LA) RML2422-0 (MD) 8724 (NC) L-108350 (NM) 00679 (NV) 1347 and 134 located at 330 Carousel Pkwy, Ste 120, Henderson, NV 89014 phone 702-407-2700 (SC) MB-508200-0508200 and S-5437 (TX) 44608 and 1181-49104 located at 12554 and 12357 Riata Trace Pkwy, C-150, Austin, TX 78727 (WA) 520-CL-17125. .

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Definitions

Appraised home value
Current market value of your home.

Original loan amount
Total amount for your original mortgage.

Original rate
Annual percentage rate of your original mortgage.

Original term in years
The total number of years for your original mortgage.

Number of payments made
The total number of payments you have made on your original mortgage.

Annual property taxes
Your annual property taxes.

Annual home insurance
Your annual homeowner's insurance premium.

Monthly PMI
The amount you pay each month for PMI. This is usually between 0.5% and 2% annually of your loan amount if you have less than 20% equity in your home.

Current PITI
Current monthly Principal, Interest, Taxes and Insurance payment.

New rate
Annual percentage rate of your new mortgage.

New term
The total number of years for your new mortgage.

New mortgage balance
Total amount for your new refinanced mortgage. This amount is equal to your current balance on your original mortgage. Closing costs and prepayment penalties are assumed to be payable at the time of closing. Closing costs are not added to your new mortgage balance.

Closing costs
Total fees and other costs associated with the new mortgage and paid at the time of closing. This calculator assumes that all closing costs are paid with proceeds other than the new mortgage (closing costs are not added to the total for your new mortgage amount).

New PITI
New monthly Principal, Interest, Taxes and Insurance payment.

New loan to value
Total loan amount divided by the appraised value of your home.

Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. Further review is necessary to obtain an exact qualification.

The information provided reflects estimates of the monthly payments you are likely to incur based upon conventional program guidelines. Other loan programs are available and actual payments may be more or less. The tax rates, interest rates and insurance rates may be more or less than displayed. Your payment may include additional charges depending on your transaction. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required. Consult your DHI Mortgage Loan Officer for detailed information.

We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.



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This is being provided for informational purposes only and is not an offer of credit. All terms subject to credit approval, market changes and availability. DHI Mortgage Company, Ltd. Limited Partnership (AZ) BK-0901845 (OR) ML-2482 (WV) ML-22923; DHI Mortgage Company, Ltd., L.P. (CA) Licensed by the Department of Corporation under the California Residential Mortgage Lending Act 413 0364 (OK) SL006154 (VA) MLB-561 Licensed by the Virginia State Corporation Commission; DHI Mortgage Company, Ltd. 098377 located at 7600 E. Orchard, Ste. 165-S, Greenwood Village, CO 80111 phone 720-488-2098 LMB license 100018938. To check the license status of your mortgage broker, visit http://www.dora.state.co.us/real-estate/index.htm; DHI Mortgage Company, Limited Partnership (DE) 7687 (MN) 20187723 (WI) 32292; DHI Mortgage Company, Ltd. (FL) CL 0701136; (GA) Georgia Residential Mortgage License 13591 located at 60 Bushwood Dr., Pooler, GA 31322 (HI) MB803 (IL)Illinois Residential Mortgage License MB 0005470 located at 850 S. Milwaukee Ave, Libertyville, IL 60048 (LA) RML2422-0 (MD) 8724 (NC) L-108350 (NM) 00679 (NV) 1347 and 134 located at 330 Carousel Pkwy, Ste 120, Henderson, NV 89014 phone 702-407-2700 (SC) MB-508200-0508200 and S-5437 (TX) 44608 and 1181-49104 located at 12554 and 12357 Riata Trace Pkwy, C-150, Austin, TX 78727 (WA) 520-CL-17125. .