calculations

Evaluate a refinance

Whether refinancing is worth it: the new payment, monthly saving, and how many months it takes to recover closing costs. Also compares lifetime interest, which catches the common trap where a lower payment costs more overall because the term was reset.

post/api/v1/calculate-refinance

Request

  • Base URL: https://www.usmortgagecalc.com
  • URL: https://www.usmortgagecalc.com/api/v1/calculate-refinance
  • Auth: none declared

Request body

currentBalancenumber required

Remaining principal on the existing loan.

currentAnnualRatePercentnumber required

Interest rate on the existing loan.

currentRemainingTermMonthsinteger required

Months still to run on the existing loan.

newAnnualRatePercentnumber required

Interest rate being offered.

newTermYearsinteger

Loan term in years. Most US mortgages are 15 or 30.

closingCostsnumber required

Total cost to close the refinance, in US dollars.

financeClosingCostsboolean

Roll closing costs into the new balance instead of paying cash.

Response

Calculation result.

dataobject

The calculation result.

Changes

No recorded changes to this operation across all 1 revision of this API.