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
Disclaimer:This tool is provided “as is” for informational and educational purposes only. Results may not be 100% accurate. ToolBird makes no warranties, express or implied, regarding the accuracy, reliability, or completeness of any output generated by this tool. This tool does not constitute professional, legal, financial, medical, or tax advice. Always consult a qualified professional for important decisions. By using this tool, you agree that ToolBird and its operators shall not be held liable for any damages, losses, or consequences arising from the use of this tool or reliance on its results. All processing occurs in your browser — we do not store, transmit, or access your data. Use at your own risk.