Do you wonder how expensive of a house you can buy? Click here.
 
To get a free anual credit report click here.
Meet consultant for accuracy
______________________________________________________________
Should I Refinance?
This calculator is for your use only. We do not collect the information you provide for any reason.

This calculator will show you how consolidating all of your debts into one lower interest loan can reduce your monthly payments.

Enter each one of the debts that you would like to pay off, along with their corresponding principal balances, interest rates, and monthly payment amounts. Once you have all your debts entered, make any desired changes to the "New Loan Information" default entries and then click on the "Calculate New" button.
Credit Type
Balance
Payment
Interest Rate
Annual Fees
Additional Cash?
New Loan Information
Enter data about your planned New Loan with us (change any of the proposed numbers below).
Proposed interest rate (%):
Loan term:
Estimated closing costs ($):
Federal & state tax rate (%):
 
Results Current New Loan
Total debts:
Effective rate before taxes:
Effective rate after taxes:
Total monthly payment:
Monthly savings:
Annual savings:
Five year savings:
Ultimate Savings Report

What if you were to pay the same OLD payments instead of your NEW LOWER PAYMENTS... (which is your choice every month)... your monthly SAVINGS will reduce the loan principal each month, SHORTENING the loan itself... without ANY more costs than you used to pay.
Total years SAVED if same OLD payments are made on NEW loan:
Total years until "FREE & CLEAR" if savings are paid to principal:
TOTAL INTEREST SAVED over life of loan if savings are applied to principal:
_____________________________________________________________
Debt-to-Income Ratio
 

Use this calculator to determine your debt to income ratio. Generally speaking, a debt ratio greater than or equal to 40% indicates you are not a good risk for lending money to.

Debt-To-Income (DTI) ratios are used to determine how much of a burden a borrower may be taking on including the existing minimum credit account payments, the new payments of the home loan, plus the monthly portion of taxes and homeowners’ insurance premiums.

Generally speaking, the higher the DTI ratios, the more burden the borrower is applying for, and the riskier it is to the lender that the borrower may at some point fail to consistently make all of their payments. Higher DTI ratios frequently result either in restrictions upon the loan amounts offered by the lenders, or a higher interest rate priced to compensate the lender for the risks, or even both.

In some cases, unverifiable income may be considered with alternative-documentation loan programs in order to reflect a truer, lower DTI ratio than a borrower may otherwise be presenting to the lender in their application file.
Monthly income before taxes:
Spouse's monthly income before taxes:
Other monthly income:
Monthly rent/mortgage payment:
Monthly 2nd mortgage payment:
Total of all monthly car/vehicle payments:
Total of all monthly credit union loan payments:
All other monthly consumer loan payments:
Total of all monthly minimum charge card payments (Visa, Mastercard, dept. store, etc.):
Other monthly payments:
Pending monthly loan payments:
 
Your total income:
Your total monthly payments:
Your debt ratio:
_____________________________________________________________
Privacy Policy  I  Licenses/Disclosures

Licensed by the Department of Corporations under the California Residential Lending Act - 7147
© 2010 HighTechLending Inc.