Mortgage Refinance Calculator

Determine if refinancing your mortgage makes financial sense. Calculate potential savings, break-even points, and compare different refinancing scenarios.

Current Mortgage

Current Loan Balance ($)

Current Interest Rate (%)

Years Remaining on Current Loan

Current Monthly Payment ($)

How Long Have You Been Paying? (Years)

New Mortgage Terms

New Interest Rate (%)

New Loan Term (Years)

Refinancing Costs ($)

Cash Out Amount ($)

How Long Do You Plan to Stay? (Years)

Refinancing Tips

Refinance when you can lower your rate by at least 0.5-1%

Consider refinancing costs vs. monthly savings

Calculate break-even point to ensure you'll stay long enough

Shop around with multiple lenders for the best rates

Consider shorter terms to save on total interest

Factor in closing costs, appraisal fees, and other expenses

Avoid cash-out refinancing unless necessary