Refinance Calculator

Calculate potential savings from refinancing your mortgage.

Loan Details

Current Loan Balance

Current Interest Rate (%)

Remaining Term (years)

New Loan Terms

New Interest Rate (%)

New Term (years)

Estimated Closing Costs

Savings Analysis

Monthly Savings

$219

Current Payment

$1,799

New Payment

$1,580

Break-Even Period

23 months

Time to recover closing costs through monthly savings

Lifetime Comparison

Total Interest (Current):$289,692

Total Interest (New):$318,861

Interest Savings:-$29,170

Disclaimer: This calculator provides estimates for comparison purposes only. Actual refinance savings depend on your specific loan terms, credit score, and market conditions. Closing costs can vary significantly by lender and location. Consider the break-even period carefully—refinancing may not be beneficial if you plan to move before breaking even. Consult with a mortgage professional for personalized advice.