Mortgage Consolidation Refinancing Calculator

Unsure if you should consolidate a first & second mortgage into a single monthly payment? Use this calculator to compare your options and figure out which approach will save you more in interest expenses along with how long it will take for a refi to save you enough money to cover the additional closing costs. Please note this calculator relies on figuring out the capital portion of your mortgage payment (principal & interest) but does not account for the other parts of your loan since any insurance, maintance, taxes & HOA fees should be the same in most cases. Please only enter the P&I portion of your monthly loan payments below.

First Mortgage Information
First Mortgage Loan Balance:
Monthly P&I Payment on First Mortgage:
Interest Rate (APR %) on your First Mortgage:
Second Mortgage Information
Second Mortgage Loan Balance:
Monthly P&I Payment on Second Mortgage:
Interest Rate (APR %) on your Second Mortgage:
Home Refinancing Information
Refinancing Interest Rate (APR %):
Refinancing for ___ Years:
Closing Costs
(usually # of points is either "1" or "2" while the dollar amount is 0.01 or 0.02 times the loan principal)
Finance Your Closing Costs in Loan?
Refi Monthly Payment:
Monthly Payment Reduction:
Months for Refi Savings to Offset Closing Costs:
Interest Due on Current Loans:
Interest Due if Refi:
Refi Interest Savings:
Net Refinancing Savings (interest savings less closing costs):


Mortgage Consolidation.

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