Mortgage refinance calculator
Refinance Calculator
Estimate monthly savings, break-even time and potential cost difference when refinancing a mortgage.
How this refinance calculator works
This calculator compares an estimated current mortgage payment with a new refinanced mortgage payment. It also estimates how long it may take for monthly savings to recover closing costs.
What is a refinance break-even point?
The break-even point is the estimated time needed for monthly savings to offset refinance closing costs. A shorter break-even period may make refinancing more attractive.
Monthly savings are not the only factor
A refinance can lower the monthly payment but may extend the loan term. That can reduce monthly costs while increasing total interest over time.
Closing costs matter
Refinance closing costs may include lender fees, appraisal fees, title fees and other charges. Higher closing costs increase the break-even time.
Important note
This calculator provides educational estimates only. It is not mortgage, lending, financial or tax advice.