Mortgage Refinance Calculator
Estimate monthly savings and break-even time when refinancing.
What this calculator does
This calculator estimates how refinancing your mortgage could change your monthly payment and how long it may take to recover closing costs.
Use it if you already have a mortgage and are comparing a new interest rate, loan term, or both.
Inputs
Results (estimated principal + interest)
Current monthly payment
$2,418.19
New monthly payment
$2,042.50
Monthly savings
$375.69
Break-even: 16 months
This calculator estimates principal + interest only. It excludes taxes, insurance, PMI, and lender-specific fees.
Next step: Compare refinance offers
- Check current refinance rates in your area
- Compare options across lenders
- Estimate payment changes before applying
If you click and apply, we may earn a commission (affiliate disclosure).
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Disclosure
- Educational purposes only. Not financial, legal, or tax advice.
- Rates and results are estimates and may not reflect lender terms.
- This site may earn a commission from partner links (affiliate disclosure). This may impact where offers appear, but not the integrity of the tools.
How this mortgage refinance calculator works
This calculator estimates monthly payment differences when refinancing a mortgage.
It compares your current loan against a new rate and term to estimate savings and break-even timing.