United States · Mortgage & Real Estate

Mortgage Refinance Calculator

Compare current and proposed mortgage payments and estimate a simple refinance break-even period.

US dollarsRuns in your browserFormula & assumptions ↓

Your inputs

Your results

Enter your values and calculate to see the result.

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How this Mortgage Refinance Calculator works

This calculator uses the values you enter to produce a transparent US-focused planning estimate. Adjust the assumptions to compare scenarios instead of treating default values as current market quotes.

Formula and assumptions

Fixed-rate loan calculations use standard amortization mathematics. Taxes, insurance, fees, HOA dues, maintenance, PMI and other costs are included only when the calculator provides an input for them.

Use current lender and property information

Interest rates, insurance, property taxes, lender charges and property costs vary by borrower, property and location. Confirm important decisions with your lender, servicer, insurer and relevant public records.

Sources and methodology

Mortgage amortization methodology is consistent with standard fixed-rate amortization described by Freddie Mac. PMI educational notes follow Consumer Financial Protection Bureau guidance. FHA mortgage-insurance rules are separate and should be checked with HUD or your servicer.

Browse all US mortgage and real-estate calculators.

How to use this calculator

  1. Set Current loan balance (default 300000).
  2. Set Current rate (default 7.25).
  3. Set Remaining term (default 25).
  4. Set New rate (default 6.25).
  5. Set New term (default 25).
  6. Set Refinance closing costs (default 6000).
  7. Select Calculate to update the result. Reset restores the starting values.

Planning estimate only. Mortgage terms, taxes, insurance, lender fees, eligibility, property costs and local rules can change actual results.

Maintained by the CalculatorsOnline Editorial Team. Read our methodology policy.