Mortgage Refinance Calculator
Compare your current mortgage with a refinanced loan to estimate monthly savings and how long it takes to break even on closing costs.
Based on your inputs, your estimated monthly savings and break-even timeline are shown below.
Compare Current vs New Loan
$0 – $2,000,000
0% – 15%
1 – 40 years
0% – 15%
1 – 40 years
$0 – $30,000
Estimated Monthly Savings
$321.14
Current Payment
$2,023.86
New Payment
$1,702.72
You’ll break even on closing costs in approximately 13 months.
Refinance Calculator FAQs
How accurate is this refinance calculator?
This calculator provides estimates using standard loan formulas. Actual refinance terms may vary by lender.
Does this include closing costs?
Yes. Closing costs are included to help estimate break-even time.
When does refinancing make sense?
Refinancing may make sense if you lower your rate or payment and plan to stay in the home beyond the break-even period.
Disclaimer: This refinance calculator provides estimates only and does not constitute financial, legal, or tax advice.