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Should I Refinance?

Input
Loan Info
Amount ($)
Interest (%) (%)
Loan Length (Yrs) (Yrs)
Months Paid (Mts)
Years Before Sell (Yrs)
Refinansing Fees
Points (%)
Origination Fees (%)
Closing Cost ($)
Your Tax Rates and Deductions
Your Tax Rate (%)
State Tax (%)
Financial Analysis
  Original Loan Refinanced Loan
Monthly Payment $1,247.74 $1,080.08
Total Monthly Payment $74,864.39 $64,804.94
Monthly Payment Savings $10,059.44
Total Interest Paid $56,931.13 $51,409.13
Tax Savings $17,648.65 $15,936.83
Tax Saving Losses $1,711.82
Balance at Refinance $186,950.49
Points Value $1,869.50
Amount Refinanced $185,080.98
Balance at Sale $169,017.23 $171,685.17
Balance Losses $2,667.94
Total Losses $4,379.76
Total Closing Cost $4,004.26
Total Benefits $1,675.43
Figures provided are based on user entry and are for informational purposes only. CLM Mortgage does not provide any warranty, express or otherwise, as to the accuracy of these calculations. This is not an offer to extend credit or a commitment to lend. All loans are subject to credit approval. All data is subject to change without notice.