Refinance Calculator

Refinancing your home can help you lower your interest rate, reduce your monthly mortgage payment, or change your loan term.
Fill in as many fields as possible for the most accurate calculation.

Current Loan
New Loan


Current Loan


New Loan


Payment Savings




Total savings:  

Through year  

Current Loan New Loan Interest Savings
Total interest payments   -   =  
Interest remaining      
Principal balance      
Total savings ( )  

Refinance Calculator Terms

For a refinance, you'll need the same information you needed when you originally financed your home, plus some additional information about the current status of your loan and the terms you hope to get with your refinance.

Current loan amount

This is the current principal left on your original loan. You can contact your current loan servicer to find out how much is left.

Current interest rate

You’ll also need to know what your current interest rate is to calculate your savings if you refinance.

Current loan term

How many years you arranged as a term on your original loan will also affect your savings from refinancing.

Current loan origination year

This helps calculate how many years are left on your loan term, which can affect your savings via a refinance.

New interest rate

Typically, you’ll be looking for a lower interest rate as one of the main benefits of refinancing your home.

New loan term

How long your new term is will affect your savings and how long it will be before refinancing pays off for you.

With this information, you’ll be able to estimate the costs of the refinance, the savings over the new loan term compared to the old one, and how many years it will take before you “break even” (when the amount you’ve saved surpasses the up-front costs of the refinance.)

Additional Free Tools

Use our free mortgage calculator tools to estimate your monthly mortgage payments based on your unique loan scenario. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.

Stay informed with what's important to you

Subscribe for Notification

Notification popup

Selected options