Mortgage Refinance Calculator
Compare your current mortgage vs refinanced loan to find monthly savings, breakeven point, and total interest saved.
Calculation Inputs
Calculation Results
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Enter inputs on the left and click Calculate to view results.
Formula & Methodology
Breakeven = Closing Costs / Monthly Savings; Savings = Old Total − New Total
Refinancing makes sense when you stay in the home longer than the breakeven period.
Frequently Asked Questions
When should I refinance?
If you can lower your rate by 0.5-1% or more and plan to stay home past the breakeven point, refinancing typically makes sense.