Mortgage Calculators
Mortgage Affordability Calculator
See how much home fits your income and debts.
Mortgage Refinance Calculator
Model a U.S. mortgage refinance by comparing your current loan balance, rate, and payment to a new rate and term. Estimate monthly savings, total interest, closing costs, and break-even timing.
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Tool workspace
Compares P&I, break-even on cash closing costs, and lifetime interest. Cash-out and rolled-in fees increase the new loan balance.
Current P&I$0
New P&I$0
Monthly savings$0
New loan amount$0
Break-even—
Lifetime interest change$0
Cash due at close$0
How it works
- Enter your remaining loan balance, current rate, years left, and monthly P&I.
- Add the new rate, term, closing costs, and optional cash-out amount.
- Review monthly savings, break-even point, and lifetime interest difference.
Features
- Side-by-side current vs refinance loan inputs
- Monthly P&I savings and break-even on closing costs
- Lifetime interest paid comparison
- Optional cash-out refinance amount
- Roll closing costs into loan balance
- Rate-and-term vs cash-out scenarios
When does refinancing make sense?
Homeowners search refinance calculator and mortgage refinance break even when rates drop or their credit improves. Savings only matter if you keep the loan long enough to recover closing costs, the break-even month.
Tools N Go shows both the payment drop and the months until upfront fees are recovered, so you can decide if a refinance fits your timeline.
Rate-and-term vs cash-out refinance
A rate-and-term refinance replaces your loan with a new rate or shorter term without taking cash. Cash-out refinance increases your balance to pull equity for renovations or debt payoff.
The workspace preview includes optional cash-out and rolled-in closing costs, common fields lenders discuss on a refinance application.
Mortgage Refinance Calculator FAQ
It is how many months of payment savings equal the closing costs you pay to refinance. If you might move sooner, a longer break-even may not be worth it.
Yes. Enter lender and third-party fees, or roll them into the new loan balance to see both views.
The first release focuses on conventional math. Program-specific fees can be added later.
Use it for planning. Your lender’s Closing Disclosure is the official source.