See new monthly payment and review monthly payment change and break-even months using values you enter.
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Mortgage Refinance Calculator for United States
USD · 12,345.67US customary measurementsRoad distance: miles
United States planning scenario. Amounts, prices and rates are editable examples. No verified local tax bands, exemptions, benefits or lender rules are applied. Currency amounts are not exchanged.
Switch countries to open a separate scenario. Your edits are kept while this calculator is open; use Save scenario to keep them on this device.
Your details
USD
Example only. Enter the amount or rate applicable to your situation in United States.
%
Example only. Enter the amount or rate applicable to your situation in United States.
Enter years. Monthly loans and savings require a whole number of months; 0.5 years is 6 months.
%
Example only. Enter the amount or rate applicable to your situation in United States.
Enter years. Monthly loans and savings require a whole number of months; 0.5 years is 6 months.
USD
Example only. Enter the amount or rate applicable to your situation in United States.
New monthly payment
$1,572.77
Amounts in USD · United States · editable planning estimate
Monthly payment change$194.18
Break-even months20.599
Remaining cash flow difference$54,254.60
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How this result was calculated
Calculate monthly payments on the current balance using each rate and remaining term. Monthly savings = old payment − new payment. When savings are positive, payment-savings break-even = closing costs / monthly savings. Compare all remaining payments including closing costs.
Country setup: United States. Displayed measurements are converted to the formula's base units internally.
Assumption: Same starting balance for both loans; closing costs are paid upfront. Payment-savings break-even does not establish that refinancing is cheaper over different loan terms. United States planning scenario. Amounts, prices and rates are editable examples. No verified local tax bands, exemptions, benefits or lender rules are applied. Currency amounts are not exchanged.
Calculation version 1.0.0 · Support state: generic
Formula and method
Calculate monthly payments on the current balance using each rate and remaining term. Monthly savings = old payment − new payment. When savings are positive, payment-savings break-even = closing costs / monthly savings. Compare all remaining payments including closing costs.
This calculation uses the values you enter. It runs in your browser and does not request a location or account.
Worked example
With the sample inputs shown, new monthly payment is 1,572.77 in the selected currency. Change the inputs to model your own case.
Questions people ask
How does the mortgage refinance calculator work?
Calculate monthly payments on the current balance using each rate and remaining term. Monthly savings = old payment − new payment. When savings are positive, payment-savings break-even = closing costs / monthly savings. Compare all remaining payments including closing costs.
Does this use live local rates or rules?
Same starting balance for both loans; closing costs are paid upfront. Payment-savings break-even does not establish that refinancing is cheaper over different loan terms.