How this calculator works
Compare your current mortgage to a refinance and see monthly and lifetime savings. Values are processed instantly on this device, with checks for missing values and invalid operations.
Savings: current_payment - new_payment | Breakeven: closing_costs / monthly_savings
Worked example
Enter realistic values in each labeled field, select Run tool, and review both the primary answer and supporting reasoning. Use Reset before trying another scenario.
Frequently asked questions
What does the Refinance Calculator do?
Compare your current mortgage to a refinance and see monthly and lifetime savings.
Are my values stored?
No. The calculation runs locally in your browser and the values are not submitted to us.
Can I rely on this result?
Use this as an informational estimate. Financial and tax outcomes depend on details not captured by a general calculator.
Important: This estimate is not financial, legal, or tax advice. Rates and rules can change.