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):


See Current Rates

The following table displays current rates across the consumer economy.

For debt, select between mortgage or auto loans. For savings, select between CDs and regular savings accounts.

Mortgage Consolidation.

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