Frequently Asked Questions

When should I refinance?

Consider refinancing when interest rates drop at least 1% below your current rate, and you plan to stay in your home long enough to recover closing costs.

What are typical closing costs?

Closing costs typically range from 2% to 5% of the loan amount. Common costs include appraisal, origination fees, title insurance, and recording fees.

How is break-even calculated?

Break-even point = Closing Costs ÷ Monthly Savings. This shows how many months to recover refinance costs.

Should I reset to 30 years?

Resetting to 30 years lowers payments but may increase total interest. Choose based on your cash flow needs and long-term goals.

Is this calculator free?

Yes! 100% free. No registration, no hidden costs. Use it as many times as you need.

Can I use it on mobile?

Absolutely! Fully responsive and works perfectly on all devices - phones, tablets, and desktop.

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Mortgage Refinance Calculator - Compare & Save

Our Mortgage Refinance Calculator PRO helps you determine if refinancing your home loan makes financial sense. Compare your current loan with a new refinance option, see monthly savings, total interest, and find your break-even point.

How it works: Enter your current loan balance, interest rate, and years remaining. Then input the new rate, loan term, and closing costs. The calculator instantly shows your new monthly payment, monthly savings, total interest comparison, and how many months to break even on closing costs.

Perfect for: Homeowners considering refinancing, real estate investors, financial advisors, and anyone wanting to lower their mortgage payments.