Mortgage Refinance Calculator

This mortgage refinance calculator will help quantify the financial change from one mortgage to another in terms of the variance per payment, per year and over the lifetime of the loan at the proposed rate as well as the values if the original payment amount was continued. An example of this would be when downsizing a mortgage but keeping the original, higher, payment. This way the payback of the new mortgage would be accelerated resulting in interest payment savings.

For help getting approved for a home loan we recommend Stewart & Lord – Registered Financial Advisers. To contact Stewart & Lord please click here.

Current Loan

Current loan amount

 

$

Current loan term years

years

Current loan rate

%

Proposed Loan

Proposed loan amount

 

$

Proposed loan term years

years

Proposed loan rate

%

Monthly Payment Summary

Current monthly payment

 

$

Proposed monthly payment

$

Variance per payment

$

Lifetime Payment Summary

Current loan full repayment

$

Proposed loan full repayment

$

Variance over full repayment

$

Years @ (current payment), per month

years

Years @ (proposed), per month

years

Loan payback full term variance years

years

Proposed loan full repayment

$

Variance over full repayment

$


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