Refinance Calculator

How much interest can you save if you refinance your mortgage? This calculator helps you find out! Enter the specifics about your current mortgage, along with your current appraised value, new loan term, rate and closing costs. We will then determine how much interest refinancing can save you. In addition, we calculate the number of months it will take to break even on closing costs with your reduced monthly payment. 

This Financial Calculator requires a Browser with Java Support

Appraised home valueCurrent market value of your home.
Original loan amountTotal amount for your original mortgage.
Original rateAnnual percentage rate of your original mortgage.
Original term in yearsThe total number of years for your original mortgage.
Number of payments madeThe total number of payments you have made on your original mortgage.
Annual property taxesYour annual property taxes.
Annual home insuranceYour annual home owners insurance premium.
Monthly PMIThe amount you pay each month for PMI. This is usually your 0.5 percent of your loan amount, if you have less than 20% equity in your home.
Current PITICurrent monthly Principal, Interest, Taxes and Insurance payment.
New rateAnnual percentage rate of your new mortgage.
New termThe total number of years for your new mortgage.
New mortgage balanceTotal amount for your new refinanced mortgage. This amount is equal to your current balance on your original mortgage. Closing costs and prepayment penalties are assumed to be paid at the time of closing. Closing costs are not added to your new mortgage balance.
Closing costsTotal fees and other costs associated with the new mortgage and paid at the time of closing. This calculator assumes that all closing costs are paid with proceeds other than the new mortgage (closing costs are not added to the total for your new mortgage amount).
New PITINew monthly Principal, Interest, Taxes and Insurance payment.
New Loan to ValueTotal loan amount divided by the appraised value of your home.


Information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Serving Tampa, St. Petersberg, Clearwater, Brandon, Bloomingdale, Lake Magdalene, Lutz, New Port Richey, Oldsmar, Palm Harbor, Riverview, Temple Terrace, Town 'n' Country, Valrico, Wesley Chapel, Westchase and the entire Tampa Bay area and state of Florida. 

Copyright 2015
Policies and Terms

American Dream Home Mortgage Inc. | 1219 Millennium Parkway, Suite 132 | Brandon, FL 33511-8178 | (813) 655-4663