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Refinance Calculator
Mortgage Calculator
Debt Consolidation Calculator

Should you refinance your mortgage?

Whenever interest rates drop, the appeal of refinancing your mortgage grows. But it's important to know the real costs -- and potential savings -- before making a move. To use the worksheet, JavaScript must be enabled on your browser.

Instructions. Just fill in the non-colored boxes with the requested information. As you tab or mouse-click through the boxes, your results will appear automatically in the colored boxes. You can change any of your entries, in case you want to try several different scenarios, but you must tab or mouse-click to another box to update your results.

Information on your CURRENT mortgage
What was the month in which this mortgage originated?
What was the year in which this mortgage originated?
What was the original amount of this mortgage?
What is the term of this mortgage?	year
What is the interest rate?
Information on your NEW mortgage
What is the mortgage amount? (The value at right is the calculated amount you currently owe)
What is the term of this mortgage?	year
What is the interest rate?
What are your estimated closing costs, including any points paid upfront?

The Results
Your current monthly payment is
Your new monthly payment will be
If you refinance now, your monthly payments will be reduced by
It will take this long to "break even," or recover closing costs on the new mortgage

Mortgage analysis	CURRENT Loan	NEW Loan
Number of payments made so far
Number of remaining payments at refinance date
Total interest paid as of refinance date
Total unpaid interest at refinance date

Debt Consolidation Calculator
When the typical debt-consolidation company advertises that they can "save you money," what they are most often referring to is simply a reduction in your total monthly debt payments -- not a savings in the cost of paying off your debt (interest charges). Sure, by consolidating your payments into a single loan, you might be paying one monthly payment that is smaller than the sum of your current monthly payments, but if they stretch your loan out for a longer period of time you could actually end up paying more interest by consolidating. This calculator will help you to determine whether or not consolidating will actually reduce the cost of retiring your debts. Instructions: Starting with the first line of entry fields, enter each one of your debts, along with their corresponding principal balances, interest rates and monthly payment amounts (the last two columns will be filled in by the calculator). Once you have entered all of the debts you wish to consolidate, click on the "Compute Current Debt Cost" button. Next, enter the consolidating loan's interest rate, term and any origination fees that might apply and click the "Compute Consolidation Loan Costs" button. IMPORTANT: In order for the this calculator to work, each debt must have the four left-hand fields filled in (for interest-free debts enter .001 just to satisfy the required interest-rate entry). Also, be sure to enter only numbers and decimal points in the numeric entry fields. Dollar signs, percent signs, commas and spaces will cause a JavaScript error.
	Entry Columns				Calculated Columns
#	Payment Description	Principal Balance	Interest Rate	Payment Amount	Interest Cost	# of Pmts Left
1		$	%	$	$
2		$	%	$	$
3		$	%	$	$
4		$	%	$	$
5		$	%	$	$
6		$	%	$	$
7		$	%	$	$
8		$	%	$	$
9		$	%	$	$
10		$	%	$	$
11		$	%	$	$
12		$	%	$	$
13		$	%	$	$
14		$	%	$	$
15		$	%	$	$
	Totals	$		$	$

Consolidation Loan Terms
Enter the Consolidating Loan's Annual Interest Rate (APR):
Enter the Consolidating Loan's term (number of years):
Enter total of any Consolidation Loan Fees:

Results				Without Consol- idating	With Consol- idating	Difference
Total of Monthly Payment(s):
Months until debts are paid off:
Total Cost (Interest Charges and Loan Fees):
Summary

Home Banking will be converting to Virtual Branch January 24, 2012.


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