Refinance Calculator

A clean tool that compares your current mortgage with a new refinance option. Enter your current loan details (either remaining loan info or original loan info) and the proposed new loan terms. The calculator estimates monthly payments, total interest, total repayment, and a simple break even period for upfront costs and points.

Current Loan

Select Loan Input Type

Choose how you want to describe your current loan. Use Remaining Loan if you know today’s balance, current monthly payment, and interest rate; or use Original Loan if you prefer to start from the original amount, original term, remaining term, and rate.

Remaining Balance ($)

Estimated principal still owed on your current loan today.

Monthly Payment ($)

Your current monthly principal & interest payment (exclude escrow if possible).

Interest Rate (%)

Current annual interest rate of your loan (APR) in percent.

New Loan

New Term (Years)

Length of the refinanced loan (e.g., 15, 20, or 30 years).

Interest Rate (%)

Expected annual interest rate (APR) for the new loan in percent.

Points (%)

Discount points paid upfront (as a percent of the principal) to lower the rate.

Costs and Fees ($)

Estimated closing costs and third party fees for the refinance.

Cash Out ($)

Extra cash you take out during refinancing; increases the new loan amount.

Comparison Result

The table compares your current loan to the new refinance: monthly payments, total repayment, total interest, and a simple break even estimate for upfront costs/points.