Refinance Calculator
Compare old and new payments, costs and break-even.
How this calculator works
Remaining cash flows of the old loan are compared with cash flows of the new loan including cash-paid or financed closing costs.
Calculation assumptions
Break-even is defined as the first month when cumulative old payments minus new payments and cash closing costs is nonnegative. It does not measure home equity or the time value of money.
Example
A lower interest rate may lower monthly costs yet increase total payments when the loan term is significantly extended.
For planning only. Not financial advice or a lender quote.
Frequently asked questions
Are my financial numbers stored or sent to your server?
No. Inputs remain in browser memory. Only language, currency, theme and recently used calculator IDs may be saved on this device. Exports are created locally.
Why can a lender’s quote differ?
Our calculations use the assumptions shown here. A lender may apply different dates, daily interest, fees, taxes, insurance or rounding.
Can I select a different currency?
Yes. Currency selection changes only the symbols and number formatting; no exchange-rate conversion occurs.