Mortgage Refinance Calculator

See your new monthly payment, how long until you break even on closing costs, and whether refinancing actually saves you money over the life of the loan.

Refinance Details
Your Current Loan
$
Your current principal balance (check your statement)
%
Your existing loan's rate (not APR)
yrs
mo
Years and months left on your current loan
Current Monthly Payment $— fill in loan details above
New Loan After Refinance
%
Rate from your lender's refinance quote
years
Resetting to 30 years lowers payment but extends payoff
$
Typically 2–5% of loan amount ($3k–$9k on a $300k loan)
Rolling in = no cash out of pocket, but you pay interest on the costs
$
Added to new loan balance. Common for home improvements or debt consolidation.
First Payment Date
Labels your amortization schedule with real dates
⚠
New Monthly Payment
—
/month
Monthly Savings
—
vs. current payment
Break-Even Point
—
months to recoup closing costs
Net Lifetime Savings
—
interest saved minus closing costs
Side-by-Side Comparison
Detail Keep Current Loan After Refinance Difference
Remaining Balance Over Time
Current loan path After refinance
Year-by-Year Schedule
Year Current: Balance Current: Interest New: Balance New: Interest Interest Saved

* Results are estimates for informational and educational purposes only. Actual refinance savings depend on your lender's rate lock, loan terms, and total closing costs. Break-even calculations assume you keep the loan for its full term and do not account for the opportunity cost of upfront closing costs. Consult a licensed mortgage professional before making refinancing decisions.