Refinance Calculator

Compare current vs refinanced mortgage payments, total savings, and break-even point for closing costs Free, fast, and private — runs entirely in your browser.

Current Mortgage

Remaining Balance

Current Interest Rate

Remaining Term

yrs

Monthly Payment (auto-calculated)

Leave blank to auto-calculate: $1,688.02/mo

Refinanced Mortgage

New Interest Rate

New Loan Term

yrs

Closing Costs

Discount Points

✓

Refinancing saves you $4,922 over 30 years

You break even after 15 months (1.3 years). After that, you save $307.51 every month.

Monthly Savings

+$307.51

Interest Saved

$9,422

Break-Even

15 mo

Net Savings

$4,922

How Refinancing Works

When it makes sense:

Rate drops 0.75%+ from your current rate
You plan to stay in the home past the break-even point
Your credit score has improved significantly
You want to switch from ARM to fixed rate

What to consider:

Closing costs typically run 2-5% of the loan
A longer term may lower payments but increase total interest
Discount points buy down the rate (1 point = 1% of loan)
Cash-out refi increases balance but provides funds

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Compare Refinance Rates

See today's refinance rates. Could save hundreds per month.

Compare Rates

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Check your rate with no impact to your credit score.

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How to Use Refinance Calculator

1Enter your values in the input fields.
2Adjust settings and options as needed.
3View your results instantly below.
4Copy or share your results.

Frequently Asked Questions

How does the Refinance Calculator work?▾

Enter your values into the calculator fields, and results update instantly. All calculations run in your browser — no data is sent to any server.

Is the Refinance Calculator free?▾

Yes, completely free with no sign-up required. Use it as many times as you need.

How accurate is the Refinance Calculator?▾

Our calculator uses standard formulas and up-to-date data. Results are estimates — consult a professional for decisions involving significant money or health.

Can I save my calculation results?▾

You can copy or screenshot your results. The calculator runs locally in your browser, so your data is never stored on our servers.

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About Refinance Calculator

Compare current vs refinanced mortgage payments, total savings, and break-even point for closing costs Free, fast, and private — runs entirely in your browser.

NexTool's Refinance Calculator is completely free to use with no sign-up required. Your data is processed directly in your browser and never sent to our servers, ensuring complete privacy and instant results.