Excel Mortgage Group
Loan Cost Calculator

Will I save money if I refinance?

How long will it take to recoup the cost?

The calculator below is meant to help you determine whether it is cost effective for you to refinance your existing loan.


The left side of the calculator is designed to compare your existing loan with a new loan. The right side of the calculator will calculate the total costs of the loan and return how many months it will cost you to recoup the costs of the new loan.

Do not enter the ($) sign. (*) indicates a required field. The fields inside the RED border will automatically total for you as you enter your information so there is no need to enter any figures in these fields.


Will I save money if I
What will this loan cost and how
refinance my existing loan?
long will it take to recoup the cost?
* Original loan amount
* Current loan term (Yrs.)
* Current interest rate
* New interest rate 
* New loan term (Yrs.)
Negative # = Cost - Positive # = Save
  Current Monthly pymt.
  New Monthly pymt.
  Difference in payment
  Interest on current loan
  Interest on new loan
  Difference in interest
If the new loan above has a higher interest rate and/or shorter term, the computed totals may return a negative figure in the "Difference in payment" box. This would make the "Months to recoup costs" at the right also return a negative figure. If your new loan won't save you money, there is no way to recoup the costs of the loan.
  Points Paid (i.e.: 1.5)
  Application fee 
  Appraisal fee 
  Credit Report 
  Processing fee 
  Title Search 
  Title Insurance
  Escrow fee 
  Underwriting fee
  Document Prep. fee
  Local Taxes, etc.
  Attorney's fees
  Other Costs 
Check Results Below
  Cost of Points Paid
  Total Costs
  Months to recoup costs

Return to Calculator page

Calculators provided by
Click1003.com / (800) 398-0504




If you are in need of assistance, please don't hesitate to call us at:

Licensed by PA Department of Banking. License # 21833
Excel Mortgage Group, Inc. NMLS Entity ID # 140455






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