What difference can a Redfrog mortgage make in your life? Our Savings Calculator can help you find out.  Step 1 asks you to enter the details of your current/proposed mortgage.

Say your current finances look like this:

• Your mortgage: $300,000
• Your mortgage payment: $1,950 (monthly)
• Your mortgage rate: 5.35% (fixed-rate)

By the time you're mortgage free, you will have paid $202,761.05 in interest on your $300,000 mortgage.  The total repayment amount? A whopping $502,761.05!

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In Step 2, you provide more details about your current financial situation.

Maybe your finances look something like this:

• The value of your current home is: $450,000
• You have a car loan for: $10,000
• Your credit cards total: $3,000
• You have a savings account of: $1,000
• You have investments that you can add: $2,500
• Your total monthly household income is: $5,500
• What you have left over each month is about: $500
• And, you expect to pay penalties, appraisal and closing fees of: $2,500

Use the "details" sections to enter in the specifics for each "debt" and "asset" on the screen; then click on "Next" to get your results. Remember, if you need help figuring out what to put in any of these fields, simply click on the

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Step 3 calculates how much time and money you could save with a Redfrog mortgage.

In our example, a Redfrog mortgage would save you $102,737.47 in interest and allow you to pay off your debt 8 years, 10 months sooner.

Use the arrows on the graph (available on the flash version of our calculator) to create other scenarios.  For instance, you may want to see how decreasing/increasing the mortgage term or amount borrowed will affect the bottom line.

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