Mortgage / Home Loan Refinance Calculator

This home loan refinance calculator will help you to decide whether or not you should refinance your current mortgage at a lower interest rate. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even on the refinance costs.



Enter the principal balance of your mortgage: (call your bank and ask for the current payoff amount)
Enter the amount of your monthly mortgage payment: (principal and interest portion only)
Enter the your mortgage's current interest rate:
Enter interest rate you will be refinancing at:
Enter the number of years you will be refinancing for:
Enter the admin costs that will be required for refinancing:

This is how much your monthly payment will be if you refinance:
Monthly Savings:
Number of months to break even on refinance costs:
This is how much interest you will pay under your current monthly payment plan:
This is how much interest you will pay under your refinanced monthly payment plan:
This is how much interest you will save if you refinance:
Net Refinancing Savings (interest savings less refinance costs):

Disclaimer and conditions: There is no guarantee that the answers given by the home mortgage refinance calculator are either complete or correct. It is not the author's responsibility if the user has incurred any monetary or non-monetary loss as a result of using the calculator. Use this calculator only for a very rough estimate of your home mortgage refinance planning needs.

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