Tool

Refinance Calculator

Evaluate whether refinancing saves money after accounting for closing costs.

Compare current balance, old rate, new rate, and closing costs to compute break-even and savings.

Understanding the Refinance Calculator

Evaluate whether refinancing saves money after accounting for closing costs. Helps homeowners know how long they must stay in the loan to recoup costs.

When to use the Refinance Calculator

Helps homeowners know how long they must stay in the loan to recoup costs. Check the break-even point before signing a refinance agreement.

Calculator

Interactive inputs

Adjust the values below to preview how the tool behaves.

Current Balance($)Current Rate (%)(%)Remaining Term (years)(years)New Rate (%)(%)New Term (years)(years)Closing Costs($)

Outputs

Live

Current Monthly Payment

$2,025.62

New Monthly Payment

$1,610.46

Break-even Months

8.43

Total Savings

$121,046.98

Frequently asked questions

What inputs drive the Refinance Calculator?

Focus on current balance, interest rates, remaining term, new term, and closing costs to shape the outcome.

How should I act on Refinance Calculator results?

Check the break-even point before signing a refinance agreement.