Mortgage Consolidation Calculator | MO

Mortgage Consolidation Calculator

Mortgage Consolidation Calculator

This calculator will help you to decide whether or not it would be advantageous for you to consolidate a first and second mortgage and refinance into a single mortgage with a lower interest rate. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even on the closing costs.

NOTE: Be sure to only include the principal and interest portion of your monthly mortgage payment, i.e., do not include any escrow portions (property taxes, insurance, etc.).

Sullivan 360

Account Options

Lending Accomodations

Online Capabilities

Mobile Banking

Community + Service

Investments

Sullivan 360

Account Options

Lending Accomodations

Online Capabilities

Mobile Banking

Community + Service

Investments

Enter the principal balance of your first mortgage:
(call your mortgage lender and ask for the current payoff amount)

Enter the amount of your monthly mortgage payment:
(principal and interest portion only)

Enter your first mortgage's current interest rate:

Second Mortgage

Enter the principal balance of your second mortgage:
(call your mortgage lender and ask for the current payoff amount)

Enter the amount of your monthly mortgage payment:
(principal and interest portion only)

Enter your second mortgage's current interest rate:

Refinancing

Enter interest rate you will be refinancing at:

Enter the number of years you will be refinancing for:

Enter the closing costs (Typically, # of points is "2" or dollar amount is .02 times the principal)>

Would you like to finance the closing costs?

This is how much your monthly payment will be if you refinance:

Monthly Payment Reduction:

Number of months for interest savings to offset closing costs:

This is how much interest you will pay under your current monthly payment plan:

This is how much interest you will pay under your refinanced monthly payment plan:

This is how much interest you will save if you refinance:

Net Refinancing Savings (interest savings less closing costs):

Summary

Information

Routing Number - 081905302

NMLS - 402603

Board of Directors

Sullivan Bank

P.O. Box 489 | Sullivan, MO 63080-0489

onlinehelp@sullivanbank.com

(800) 645-3191

Legal

Terms & Conditions

Photo Release Form

BOI Beneficial Ownership Information

CRA Public File

Community Reinvestment Act Notice

Sullivan Bank

P.O. Box 489

Sullivan, MO 63080

Toll Free Number

(800) 645-3191

© 2024 Sullivan Bank, All Rights Reserved

Share by: