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VA Home Loan Refinance Calculator

This free VA mortgage refinance calculator gives you a look at your potential monthly savings with VA Refinance Loans.

    1. Current Loan

    1. New VA Refinance Loan

    2. 7.565% APR Estimated rate, yours may differ. Get Your Personalized Rate ›
    3. Good 680-719
    4. Regular Military
    5. This is the balance left to be paid from your original loan amount.
    6. The VA Funding fee is typically 2.3% of the total loan amount, or 3.6% if VA loan benefits were used before. This fee is waived if receiving VA disability compensation.
    7. Closing costs vary state to state. The typical range you can expect is 3%-6%.

Results

It is estimated that you could decrease your monthly payment by $75 and pay $8,443 more in interest over the life of the loan. It would take about 7 Years to recover refinancing costs.

Estimated Monthly Payment

(Payments do not include taxes and insurance.)

Current
$1,152
Right Arrow
New
$1,077
Monthly Savings
$75
Break Even
7 Years

Estimated Interest Over Time

Interest Payment Increase
$8,443

VA Home Loan Refinance Totals:

  • Refinance Loan Amount $146,281
  • Cashout Amount $0
  • VA Funding Fee $761
  • Estimated Closing Costs $5,851
  • Total Loan Amount $152,893
  • Refinancing Costs
  • Refinancing Savings

Chart data is represented in table below.

Yearly Savings Breakdown

  Monthly Payment Savings Interest Payment Savings Total Savings
Year 1 -$1,000 -$1,000 -$1,000
Year 2 -$1,000 -$1,000 -$1,000
Year 3 $1,000 $1,000 $1,000
Year 4 $1,000 $1,000 $1,000
Year 5 $1,000 $1,000 $1,000
Year 6 $1,000 $1,000 $1,000
Year 7 $1,000 $1,000 $1,000
Year 8 $1,000 $1,000 $1,000
Year 9 $1,000 $1,000 $1,000
Year 10 $1,000 $1,000 $1,000
Year 11 $1,000 $1,000 $1,000
Year 12 $1,000 $1,000 $1,000
Year 13 $1,000 $1,000 $1,000
Year 14 $1,000 $1,000 $1,000
Year 15 $1,000 $1,000 $1,000

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