Refinance Calculator
Compare your current payment with a new loan and see the monthly change and break-even point.
Your current loan and the new loan
Enter your current balance and rate, then the new rate and term you are considering. Closing costs are the fees to take out the new loan.
Results are estimates for planning, not a loan offer. Your actual rate, costs and eligibility depend on the lender and your full file.
What the refinance calculator estimates
Compare the principal and interest payment on your current loan with a new loan at a different rate or term. It shows the monthly change, how many months it takes for savings to cover closing costs (the break-even point) and the total interest on each loan.
Information used
Main inputs include current balance, current rate, years left, new rate, new term, closing costs and an optional cash-out amount.
Results are estimates, not a loan offer. Taxes, insurance and HOA are not included, and actual costs and eligibility vary by lender.