Mortgage Refinance Calculator (USA)

Mortgage Refinance Calculator

Find out if switching loans is a smart move—see new payment, break-even, and lifetime interest savings.

Inputs

USA, fixed-rate. Closing costs can be paid upfront or rolled into the new loan.

Current Remaining Balance ($)

Current Interest Rate (APR %)

Current Remaining Term (years)

New Interest Rate (APR %)

New Loan Term (years)

Closing Costs ($)

Roll closing costs into the new loan

Planned Time Remaining in Home (years)

Extra Monthly Principal (optional, $)

For both scenarios (current & refi), to compare apples-to-apples

We use standard amortization: Payment = P · r · (1+r)^n / ((1+r)^n − 1)

Results

New monthly payment & savings • Break-even months • Lifetime interest savings

New Monthly Payment

—

Includes rolled closing costs if selected

Monthly Savings

—

vs current payment

You could save — over the life of the loan.

Break-Even Point

—

Months until savings cover closing costs

Total Interest — Current

Remaining life, including any extra principal

Total Interest — Refi

Entire new term, including rolled costs if any

Warning: Your break-even point is longer than your planned time in the home. Refinancing may not pay off unless rates drop further or costs are lower.