Mortgage Refinance Calculator
Compare your current mortgage vs a new refinanced mortgage. Calculate monthly savings, break-even point, total interest saved, and lifetime savings. 100% client-side.
Current Mortgage
New Mortgage
Enter your current and new mortgage details to see the comparison.
How to Use the Mortgage Refinance Calculator
- Enter your current mortgage details: remaining balance, interest rate, and remaining term in years.
- Enter the new mortgage offer: interest rate, new loan term, and estimated closing costs.
- Results update in real time showing monthly savings, break-even point, and total interest saved.
When Should You Refinance?
Refinancing typically makes sense when you can reduce your interest rate by 0.5% to 1% or more, plan to stay in your home past the break-even point, and the closing costs are reasonable relative to monthly savings. Consider your timeline and whether a shorter term might build equity faster.
Features
- Current vs new mortgage side-by-side comparison
- Break-even point calculation
- Total interest saved over life of loan
- Monthly payment savings
- Lifetime savings including closing costs
- Copy results to clipboard
- 100% client-side, no data stored
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Disclaimer: This tool is provided as-is for informational and educational purposes only.