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Use this refinance calculator for a clear financial estimate. Results update instantly in your browser.
What this calculator does
Test whether replacing a mortgage could reduce payments or total interest.
How to use this calculator
- Enter current loan details and the proposed refinance rate, term, and fees.
- Review the calculation assumptions before using the result.
- Compare savings against the refinance break-even point.
How to calculate
Monthly payment uses loan amortization; APR is solved from the new payment and net proceeds after upfront fees; break-even is the first month when cumulative refinance cost is no greater than keeping the current loan.
Enter the values requested by the refinance calculator.
Worked example
Use the default values as a worked example, then replace them with your own figures.
Understanding your result
Compare savings against the refinance break-even point.
- A lower payment can still mean more lifetime interest.
- Double-check values and units before calculating.
This calculator is educational and is not financial or medical advice.
Frequently asked questions
What does this refinance calculator do?
Test whether replacing a mortgage could reduce payments or total interest.
How do I use this refinance calculator?
Enter current loan details and the proposed refinance rate, term, and fees.
What does the result mean?
Compare savings against the refinance break-even point.
What should I check before relying on it?
A lower payment can still mean more lifetime interest.