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Mortgage Refinance Calculator

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Compare current and refinanced mortgage payments.

  • 100% Free
  • No signup
  • Private & secure
  • Instant results
  • On your device

Private on your device

Your information stays on your device and is not uploaded.

What to do next

Related tools

Enter your current loan balance, rate, and remaining term, then compare monthly payment, total interest, and optional closing-cost break-even with a refinanced loan.

How to use this tool

1. Enter current loan balance, rate, and remaining term. 2. Enter the new rate, new term, and optional closing costs. 3. Compare monthly payment, interest savings, and break-even months.

Worked example

Example: $250,000 remaining at 7% with 25 years left vs a 5.5% refinance over 25 years with $3,000 closing costs—see monthly savings and how many months until fees are recovered.

How it works

Compares your current mortgage payment and total interest with a refinanced loan. Optional cash-out, discount points, and financed closing costs increase the new loan amount. Break-even uses cash due at closing (zero when costs are financed) divided by monthly payment savings.

Limitations

Results are estimates for educational purposes and are not financial advice. Lender fees, taxes, insurance, and break-even timing vary.

Privacy and file handling

Your data stays on your device and is not uploaded.

Formula or method

Uses the standard amortizing loan payment formula on the remaining balance for both the current and refinanced loan. Break-even divides closing costs by monthly savings when savings are positive.

Related comparisons

Learn how formats and terms differ before you convert or calculate.

FAQ

Frequently asked questions

Is Mortgage Refinance Calculator free?

Yes. It is free to use and you do not need to sign in or create an account.

Is my data private?

See the privacy note on this page. Many tools run on your device; some heavier file tools may use secure temporary processing when required.

Can I use Mortgage Refinance Calculator on mobile?

Yes. Open this page on your phone or tablet, enter your inputs, and use the on-screen controls.

Part of these workflows

This tool is one step in a longer job. Jump straight to your step or open the full workflow guide.

Related pages

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