Refinance Calculator

Determine if a new mortgage will truly save you money.

Refinance Parameters
1. Current Mortgage Details
$
%
mo
2. New Loan Terms
%
mo
$
Strategy Note

Compare your existing mortgage balance and rate with today's offers. We'll show you exactly how many months it takes to recover your closing costs.

Refinance Goals
  • Lower Payment: Increase your monthly disposable income.
  • Save Interest: Reduce the total cost of your home.
  • Equity Boost: Shorten your term to pay off sooner.
The "1% Rule"

Many experts suggest refinancing is a "no-brainer" if you can drop your rate by at least 1%, but the break-even point is always the truest measure.

Expert Tip

Don't just look at the monthly payment. If you extend your 25-year remaining term back to a new 30-year term, you might pay more interest despite a lower monthly bill.

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