Mortgage Calculators

Mortgage Refinance Calculator

Compare your current mortgage to a refinance, including closing costs and the break-even point.

Inputs

Current balance

Current rate

Years left on current loan

New rate

New term (years)

Closing costs

Estimates only. Change any value to recalculate instantly.

Monthly payment savings $261.61 break-even on closing costs in 17 months

Current payment $1,760.48

New payment $1,498.88

Break-even 17 mo

Lifetime interest change -$30,802

Lifetime interest

Current loan interest $320k
Refinanced interest $290k

Cumulative cost Keep current loanRefinance (incl. costs)

You save $262/mo and recoup $4,500 in closing costs after 17 months. Extending the term can raise total interest even when the payment drops.

Cumulative cost by year (refinance includes closing costs)View table

Year	Keep current	Refinance	Running savings
1	$21,126	$22,487	-$1,361
2	$42,252	$40,473	$1,779
3	$63,377	$58,460	$4,918
4	$84,503	$76,446	$8,057
5	$105,629	$94,433	$11,197
6	$126,755	$112,419	$14,336
7	$147,881	$130,406	$17,475
8	$169,007	$148,392	$20,614
9	$190,132	$166,379	$23,754
10	$211,258	$184,365	$26,893
11	$232,384	$202,352	$30,032
12	$253,510	$220,338	$33,172
13	$274,636	$238,325	$36,311
14	$295,761	$256,311	$39,450
15	$316,887	$274,298	$42,590
16	$338,013	$292,284	$45,729
17	$359,139	$310,271	$48,868
18	$380,265	$328,257	$52,007
19	$401,391	$346,244	$55,147
20	$422,516	$364,230	$58,286
21	$443,642	$382,217	$61,425
22	$464,768	$400,203	$64,565
23	$485,894	$418,190	$67,704
24	$507,020	$436,176	$70,843
25	$528,145	$454,163	$73,983
26	$549,271	$472,149	$77,122
27	$570,397	$490,136	$80,261
28	$570,397	$508,122	$62,275
29	$570,397	$526,109	$44,288
30	$570,397	$544,095	$26,302

How this calculator works

This calculator runs entirely in your browser — nothing you enter is sent anywhere, and there is no sign-up. Change any input and the result, breakdown, and schedule update instantly.

Rate and cost fields are pre-filled with current benchmarks (Federal Reserve / Freddie Mac via FRED (St. Louis Fed)), so your first result is already realistic — replace them with your own quote to see your numbers. To weigh one option against another, use the loan comparison calculator.

30-year fixed mortgage rate, 2019–2026

Source: Freddie Mac PMMS via FRED. Annual averages; latest weekly reading shown.

Common questions

Is this calculator free, and do I need to sign up?

Yes and no — it is completely free and asks for no account or personal details. Every calculation happens in your browser, so nothing you type is stored or sent to us.

How accurate are the results?

The math is exact for the inputs you give it, but the defaults are national benchmarks — your real rate, fees, taxes, and insurance will differ. Treat the result as a close estimate to refine with a real quote.