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Refinance Calculator

Financial information notice: This calculator provides estimates based on your inputs and assumptions, not financial, tax or investment advice. Verify details before making decisions.

Compare current and replacement loan payments and estimated interest savings.

Formula and assumptions

Payment estimates use standard fixed-rate amortization; excludes taxes, escrow, variable rates and other fees.

Results depend on the inputs and assumptions shown. Check units and independently verify important decisions.

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Frequently asked questions

What does a refinance calculator estimate?

It estimates a new loan payment from the loan balance, interest rate and term, then compares it with the current payment when those inputs are provided. Actual lender fees, escrow and taxes can change the result.

How do I calculate the refinance break-even point?

Divide the refinance closing costs by the estimated monthly savings. The result is the approximate number of months needed to recover those costs, assuming the savings remain steady.

Does refinancing always save money?

No. A lower payment may come from extending the repayment term, which can increase total interest. Compare payment, fees, remaining term and total cost before deciding.