Refinance Calculator

Why This Matters

Refinancing your mortgage could save you money by lowering your interest rate or changing your loan term. This calculator helps you determine if refinancing makes financial sense based on potential savings and the time it takes to recoup closing costs.

How to use: Enter your current loan details and the terms of your potential new loan. The calculator will show your monthly savings and break-even point.

Loan Information

Current Loan Balance:

Current Interest Rate (%):

Years Remaining on Current Loan:

New Interest Rate (%):

New Loan Term (years):

Closing Costs:

Refinance Results

Current Monthly Payment

New Monthly Payment

Monthly Savings

Break-even Point

N/A

Lifetime Savings

Tip: This refinance may not be financially beneficial. Consider adjusting the terms or keeping your current loan.