Mortgage Refinance Calculator
Compare your current mortgage against a new loan to estimate monthly payment savings, break-even timing, and lifetime interest reductions. Adjust rates, terms, and closing costs to see if refinancing makes sense.
Your Current Loan
New Loan Options
New Monthly Payment
$1,774.59
Based on selected rate and term
Estimated Monthly Savings
$369.34
New payment vs. current payment
Break-Even Point
13 months
Time to recover closing costs
Lifetime Interest Savings
-$173
After factoring closing costs
Payment Comparison
Balance Over Time
Compare remaining balances for both scenarios year by year. A steeper decline indicates faster equity build-up.
Detailed Summary
Current Monthly Payment
$2,143.93
Total Closing Costs
$4,500
Interest Remaining (Current)
$318,178
Interest with Refinance
$313,851
These numbers are estimates. Request a Loan Estimate from multiple lenders to compare actual offers, and consider how long you plan to stay in the home.
Scenario Vault
Save multiple versions of your inputs and compare how the outputs change.
Comparison
Current inputs vs. selected scenario.