Mortgage Refinance Calculator
Calculate your potential savings with a mortgage refinance and find out if refinancing makes sense for you
This calculator provides estimates based on the information you enter. Actual refinance rates, costs, and savings may vary based on your credit score, location, and lender requirements. We recommend consulting with a mortgage professional for a detailed assessment.
Calculate Your Refinance Savings
Current Loan Information
New Loan Details
Closing Costs
Typical closing costs range from 2-5% of the loan amount
Your Refinance Analysis
Monthly Savings
Break-Even Time
Payment Comparison
Lifetime Savings Analysis
Refinance Recommendation
Understanding Mortgage Refinancing
Break-Even Analysis
Consider how long you plan to stay in your home compared to the break-even period. Refinancing makes the most sense if you'll stay in your home beyond the break-even point.
Closing Costs Impact
Remember to factor in all closing costs, including points, appraisal fees, and other expenses. These costs affect your total savings and break-even timeline.
Rate vs. Term
Consider both the interest rate and loan term when refinancing. A lower rate with a longer term might mean higher total costs over the life of the loan.