Mortgage Refinance Calculator

Compare your current loan to a refinance and see if it makes sense

Remaining Balance

Current Rate %

Remaining Term (months)

Current Payment (optional)

New Rate %

New Term

Closing Costs

Not Worth Refinancing

Breakeven at 17 months — too far out

Monthly Payment$1,891

Remaining Term300 mo (25.0 yrs)

Total Interest$287,174

Total Cost$567,174

Monthly Payment$1,590

New Term360 mo (30 yrs)

Total Interest$292,331

Total Cost$577,331

$301

Monthly Savings

17 mo

Breakeven Point

$10,157

Extra Cost

The current loan costs less overall in this scenario