Refinance Calculator

Compare your current mortgage with a new one to see the monthly saving and how long it takes for the closing costs to pay for themselves.

Read the guide: When Does Refinancing a Mortgage Actually Pay Off?

Current loan

New loan

You save each month

$362.52

Break even in 1 yr 2 mo

Current payment
$1,996.52
New payment
$1,634.00
Lifetime interest saved
$34,673
New loan amount
$280,000

Compares remaining interest on your current loan with the full new loan. Estimates for planning only, not financial advice.

How it works

  1. 1

    Enter your current loan

    Add the remaining balance, rate and months left to run.

  2. 2

    Enter the new loan

    Put in the new rate, term and the closing costs you would pay.

  3. 3

    Find the break-even

    See the monthly saving and the month the savings cover the costs.

Instant & 100% private — nothing is uploaded

Every calculation runs locally in your browser. The income, balances and goals you enter stay on your own device and are never sent to a server — nothing is stored, logged or shared.

Frequently asked questions

What is the break-even point?
It is the number of months of lower payments needed to recoup the closing costs. If you plan to stay past that point, refinancing usually pays off.
Does a lower payment always mean a better deal?
Not always. Stretching the balance over a fresh long term can lower the payment but increase total interest. The lifetime interest figure shows the real picture.
Is this financial advice?
No. These are estimates to help you plan and compare options. Your real figures depend on your lender, taxes and personal situation, so check with a qualified professional before deciding.
Is my data sent anywhere?
No. Every calculation runs in your browser. Nothing you type is uploaded, logged or stored, and the numbers reset when you close the tab.