Mortgage Refinance Calculator

Will refinancing to a lower interest rate make sense for you? This calculator shows you your new monthly payment and net interest savings, and the amount of time it will take to offset closing costs for your home.

The principal balance of your mortgage (check your most recent mortgage statement for your current loan balance)
The amount of your monthly mortgage payment (principal and interest portion only)
Your mortgage's current interest rate
Interest rate you will be refinancing at
The number of years you will be refinancing for
The closing costs that will be required for refinancing
CALCULATE CALCULATE
This is how much your monthly payment will be if you refinance
Monthly Savings
Number of months to break even on closing costs
This is how much interest you will pay under your current monthly payment plan
This is how much interest you will pay under your refinanced monthly payment plan
This is how much interest you will save if you refinance
Net Refinancing Savings (interest savings less closing costs)
Recalculate
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