Homeowner Affordability & Stability (HASP/HAMP) Refi

How to use this calculator

1. Enter your current balance, rate, and remaining term.
2. Enter the proposed new rate, term, and any closing costs (assumed financed).
3. Review the new payment, monthly savings, breakeven months, and total interest difference.

Inputs explained

Remaining term

Years left on your existing mortgage.

Closing costs

Assumed financed into the new loan amount for comparison.

When to use it

• Checking if a stability-plan/HAMP-style refi meaningfully lowers your payment.
• Seeing how extending the term trades lower payments for higher total interest.
• Finding breakeven months on rolled-in closing costs.

Tips & cautions

• Try a shorter new term to reduce total interest if payment is affordable.
• If you plan to sell soon, focus on breakeven months vs your expected hold period.
• Lower rates help most; extending term alone can raise total interest—check the totals.
• Simplified: ignores escrow, MI, points, or eligibility rules from the original program.
• Assumes fixed rates and financed closing costs; adjust balance manually if you’ll pay costs in cash.

Deep dive

Related calculators