Refinance Calculator

Discover Refinancing Possibilities

Determine if refinancing is right for you with our calculator that estimates potential savings, break-even points, and monthly payment changes.

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Mortgage Refinance Calculator

Should I refinance my mortgage loan?

This 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 closing costs.


If you refinance your current {{ formattedCurrentInterestRate }}% mortgage to a {{ formattedRefinanceInterestRate }}% mortgage, your monthly payment will decrease by {{ formattedPaymentReduction }} and you will save {{ formattedInterestSavings }} in interest charges over the life of the mortgage. However, in order for this refinancing to yield any savings at all you will need to stay in your current home for at least {{ formattedMonthsToOffsetRounded }} months. That's how long it will take for the monthly interest savings to offset the closing costs attributable to refinancing.

*Calculator provides general estimations only. Inconsistencies may occur with the use of the calculator and the outcomes are not credit guarantees. For specific payment and interest information, please contact us.