Mortgage Refinance Calculator
Compare current mortgage costs with a new refinance rate, term, cash-out, and closing costs.
This page is an editable estimator with realistic defaults so you can model your own situation in minutes.
New payment uses amortization.
Break-even equals closing costs divided by monthly savings.
| Current interest estimate | $248,800.00 | |
|---|---|---|
| New interest estimate | $372,274.07 |
Assumptions
- Break-even depends on actual closing costs and how long you keep the new loan.
How this calculator works
Formula used
New payment uses amortization. Break-even equals closing costs divided by monthly savings.
Example calculation
Plug in your own numbers and the result updates instantly. New payment uses amortization. Break-even equals closing costs divided by monthly savings.
Mortgage Refinance Calculator FAQ
Is this mortgage refinance calculator exact?
No. It is a U.S.-focused estimate for planning. Actual mortgage quotes, taxes, insurance, fees, HOA dues, lender rules, and local real estate costs can vary.
What numbers should I enter?
Use current lender quotes, county tax estimates, insurance quotes, HOA dues, and realistic purchase or rent assumptions whenever possible.
Is this mortgage or real estate advice?
No. The result is educational only and is not financial, mortgage, tax, legal, or real estate advice.