You may enter specific information about your annual taxes and hazard insurance, or may select the box the have this calculator estimate your annual taxes and insurance. In either case, the results displayed above are only estimates and cannot be used to determine actual loan costs. Please consult your tax advisor for information on the deductibility of interest for tax purpose. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.