Refinance Calculator

Compare a current mortgage against a refinance offer to estimate payment change, lifetime savings, and break-even timing.

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Input

Enter the current mortgage details and the proposed refinance terms, including closing costs, to estimate whether refinancing improves the numbers. This tool shows the result instantly without step-by-step output.

Input summary

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How to use Refinance Calculator

Provide both the old and new mortgage terms, and the calculator will estimate how the refinance changes monthly payment and long-run cost.

What this calculator is for

This calculator is for homeowners deciding whether a refinance is worth the transaction cost. It helps distinguish a lower payment from true savings, especially when the new term resets the payoff clock.

Tips

Break-even matters only if you expect to keep the loan and property long enough to recover the refinance costs.
A lower payment is not always a better outcome if the refinance adds years of interest back onto the mortgage.