Refinance Calculator

Compare your current mortgage with a new one to see the monthly saving and how long it takes for the closing costs to pay for themselves.

Check whether refinancing your mortgage is worth it. Compare your current loan with a new rate and term to see the monthly saving, the change in total interest, and the month the closing costs pay for themselves.

Read the guide: When Does Refinancing a Mortgage Actually Pay Off?

Current loan

New loan

You save each month

$362.52

Break even in 1 yr 2 mo

Current payment
$1,996.52
New payment
$1,634.00
Lifetime interest saved
$34,673
New loan amount
$280,000

Compares remaining interest on your current loan with the full new loan. Estimates for planning only, not financial advice.

How it works

  1. 1

    Enter your current loan

    Add the remaining balance, rate and months left to run.

  2. 2

    Enter the new loan

    Put in the new rate, term and the closing costs you would pay.

  3. 3

    Find the break-even

    See the monthly saving and the month the savings cover the costs.

Instant & 100% private — nothing is uploaded

Every calculation runs locally in your browser. The income, balances and goals you enter stay on your own device and are never sent to a server — nothing is stored, logged or shared.

Frequently asked questions

What is the break-even point?
It is the number of months of lower payments needed to recoup the closing costs. If you plan to stay past that point, refinancing usually pays off.
Does a lower payment always mean a better deal?
Not always. Stretching the balance over a fresh long term can lower the payment but increase total interest. The lifetime interest figure shows the real picture.
When is refinancing usually worth it?
When you plan to keep the home past the break-even month and the new rate is low enough that the monthly saving outweighs the closing costs. A short remaining time in the home makes it harder to justify.

Important

For information and planning only — not financial, tax or legal advice. These figures are estimates; rates, fees and rules vary, so confirm anything that affects a real decision with a qualified professional or the official source.

More tools

IBAN ValidatorCheck an IBAN and see the bank code, account number and BIC.IBAN CalculatorBuild a valid IBAN from a country, bank code and account number.IBAN GeneratorGenerate random valid example IBANs for testing and demos.Account Number CheckerValidate a German account number's check digit.BIC / Bank Code FinderLook up a German BIC from a bank code or bank name.Mortgage CalculatorMonthly payment with taxes, insurance and a full amortization schedule.

More from the Hivly network

Free sister tools on our other sites.

Length ConverterMetres, feet, miles, inches, km and more, instantly.Scientific CalculatorPowers, roots, trig, logs, memory and history.Age CalculatorExact age in years, months and days, plus your next birthday.