Is Now a Good Time to Refinance?
Enter the information about your current loan and then the proposed refinance rate and term scenario.  The savings shown is based upon how many years you indicate you will stay in the home.  Real estate taxes and the payment you will skip during the refinance process will either need to be paid at closing or financed.    If financed you should not consider them as closing costs because they are something you would be paying even if you kept your current loan.  Standard Closing costs range from about 2,000 to 3,000, excluding any points or origination fees.   Your loan officer will give you a complete Good Faith Estimate when you complete the refinance paperwork

Note Regarding Closings Costs.  By default this calculator assumes that any closing costs are paid in cash and the new Loan Amount is the prefilled with the present balance on your loan.  If you choose to finance the closing costs add that amount to the new loan amount and put 0 in the Closing Cost Box. If you do not do this, the closing costs will be counted twice.  Also, do not include in the closing costs the interest to close and the funding of the new escrow account because you would have these amounts on your existing loan or the new loan.