Refinance Calculator

This worksheet calculates how far interest rates need to fall before you should refinance an old fixed-rate mortgage with a new fixed-rate mortgage.
Begin by filling in the boxes under the heading "Basic Parameters." Default values already appear in these boxes. You should enter the numbers that apply to your own mortgage.
Next, you can revise the information under the heading "Advanced Parameters." However, most mortgage holders should not adjust these parameters since they are already set appropriately.
When you are done, press Calculate at the bottom of the page. Your answer will appear after the screen refreshes.