Refinance Calculator
Calculate mortgage refinancing savings, break-even analysis, and compare current vs new loan terms
Refinance Analysis
Current Loan
Outstanding loan balance
Your current mortgage rate
Years left on current loan
Calculated automatically
New Loan
Rate offered by new lender
Length of new loan
Total refinancing costs
Calculated automatically
Monthly Payment Analysis
Current Payment
$0
New Payment
$0
Monthly Savings
$0
Break-Even Analysis
Break-Even Time
0 months
Time to recover closing costs
Total Closing Costs
$0
Upfront refinancing costs
Lifetime Savings Analysis
Total Interest - Current
$0
Total Interest - New
$0
Net Lifetime Savings
$0
🏠 Refinancing Recommendation
Calculate refinancing to see personalized recommendations.
Refinancing Guide
Refinancing Tips
- Consider refinancing when rates drop 0.5-1% below your current rate
- Factor in closing costs — typically 2-5% of loan amount
- Plan to stay in your home beyond the break-even point
- Shop around — rates and fees vary between lenders
- Consider cash-out refinancing for home improvements
Types of Refinancing
Rate-and-Term Refinance
Change interest rate or loan term without borrowing additional money
Cash-Out Refinance
Borrow more than you owe and receive the difference in cash
Cash-In Refinance
Pay down principal to get better rates or eliminate PMI
Streamline Refinance
Simplified process for FHA, VA, or USDA loans
When to Refinance
Interest rates have dropped significantly
Your credit score has improved
Switching from ARM to fixed rate
Cash needed for home improvements
Eliminate PMI
Typical Closing Costs
Application Fee$300–$500
Origination Fee0.5–1.5% of loan
Appraisal$400–$600
Title Insurance$500–$1,500
Attorney Fees$500–$1,000
Recording Fees$100–$300
Total Range2–5% of loan amount