Compare your current mortgage with a new refinance offer. Estimate your new monthly payment, monthly savings, closing cost break-even point, and possible lifetime savings before making a decision.
Enter your current mortgage details and the new refinance terms to see if refinancing may save you money.
Results update when you click the calculate button.
A mortgage refinance calculator helps homeowners compare their existing mortgage with a new loan offer. It estimates whether switching to a new interest rate or loan term could reduce monthly payments, lower total interest, or help recover closing costs over time.
This tool is useful before contacting a lender because it gives you a quick estimate of payment changes, possible savings, and the break-even period. It does not replace a full lender quote, but it can help you understand whether refinancing is worth exploring.
See your estimated current payment and new refinance payment side by side.
Find out how many months it may take to recover closing costs through monthly savings.
Review possible monthly and lifetime savings before refinancing your mortgage.
Add your current loan balance, interest rate, and remaining loan term.
Enter the new interest rate, new loan term, and expected closing costs.
The calculator estimates your current and new monthly mortgage payments.
The tool divides closing costs by monthly savings to estimate how long it may take to recover your costs.