- Original loan amount
- Total amount for your original loan.
- Original rate
- Annual percentage rate of your original loan.
- Original term
- The total number of months for your original loan.
- Number of payments made
- The total number of payments you have made on your original loan.
- Current payment
- Current monthly principal and interest payment.
- New rate
- Annual percentage rate of your new loan.
- New term
- The total number of months for your new loan.
- New loan balance
- Total amount for your new refinanced loan. This amount is equal to your current balance on your original loan. Closing costs and prepayment penalties are assumed to be payable at the time of closing. Closing costs are not added to your new loan balance.
- Closing costs
- Total fees and other costs associated with the new loan and paid at the time of closing. This calculator assumes that all closing costs are paid with proceeds other than the new loan (closing costs are not added to the total for your new loan amount).
- New payment
- New monthly principal and interest payment.
