Mortgage Refinance Calculator

🏠 Current Loan Details

Enter your current mortgage details. You can find these on your monthly statement or loan documents.

Original Loan Amount ?

Current Balance ?

Current Interest Rate ?

Original Loan Term ?

Years Already Paid ?

yrs

Years Remaining ?

yrs

Current Monthly Payment (P&I) ?

$/mo

✨ New Loan Details

New Interest Rate ?

New Loan Term ?

Closing Costs ?

$ or %

Roll closing costs into new loan

💰 Cash-Out Refinance (Optional)

Cash-out refinancing lets you borrow more than you owe and receive the difference in cash. This increases your loan amount.

I want to take cash out

📋 Additional Monthly Costs

Property Tax ?

$/mo

Home Insurance ?

$/mo

PMI Rate ?

HOA Fees ?

$/mo

Refinance Analysis

See your potential savings below

Monthly Savings

^$350

per month with new loan

Monthly Savings

$350

Yearly Savings

$4,200

Lifetime Savings

$45,000

Loan Comparison

Details

Current Loan

New Loan

Loan Amount

$250,000

Interest Rate

7.5%

6.0%

Loan Term

25 years

15 years

Monthly P&I

$2,098

$2,109

Total Interest

$379,400

$129,620

Total Cost

$629,400

$385,620

Break-Even Analysis

0 months 5 years 10 years

📈

Break-even in 18 months

After this time, your savings will exceed your closing costs.

Visualizations

💡 Recommendations

Disclaimer: This calculator provides estimates for informational purposes only. Actual rates, terms, and savings will vary based on creditworthiness and other factors. Consult with a licensed loan officer.