Compare current versus new loan terms and savings
For homeowners and investors analyzing refinance decisions: compare current mortgage to new rates and terms, calculating payback period and breakeven.
Mortgage Refinance Calculator
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Create Free AccountWhat it does
The Mortgage Refinance Calculator compares your current loan terms to a new refinance scenario by calculating monthly payment savings, total interest reduction, and the break-even point where cumulative savings exceed refinance closing costs. Input current loan details and proposed terms to determine if refinancing makes financial sense.
Most borrowers refinance when rates drop, but the math isn't obvious — savings could take 2-3 years to exceed closing costs. This calculator removes guesswork by showing exactly when you break even and whether you plan to hold the property long enough to realize projected savings.
Who it's for
- Borrowers evaluating refinance opportunities when rates drop or financial circumstances change
- Loan officers presenting refinance scenarios and break-even analysis to clients
- Financial advisors assessing refinancing as a portfolio optimization strategy
- Real estate investors evaluating cash-out refinancing for additional leverage
How it works
Enter current loan details
Balance, rate, term remaining, current payment.
Input proposed new loan terms
New rate, new term (15, 20, or 30 years), cash-out amount if applicable.
Calculate monthly savings and breakeven
Monthly savings times months to break even gives payback period.
Why it matters
Calculate exact monthly payment savings from refinancing
Determine payback period: when do you break even on refi costs?
Model different rate scenarios and terms
Decide cash-out refinance versus rate-and-term
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Full access to Mortgage Refinance Calculator, 66 other calculators, live FRED rates, AI deal verdicts, conservative/base/optimistic scenario projections, printable reports, and vault storage.
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67 Calculators
Every investment strategy — rental, flip, BRRRR, mortgage, commercial, wealth building.
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Conservative, base, and optimistic 1/2/5/10-year return modeling.
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Claude-powered analysis — strengths, risks, and actionable recommendations.
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Address Auto-Fill
Enter a property address to pre-fill value, rent, and tax data automatically.
Live FRED Rates
Mortgage rate fields pre-populate with Federal Reserve interest rate data.
Investment-Grade Math
Every formula audited against professional underwriting standards.
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Frequently asked questions
Is refinancing worth it?
Rule of thumb: if payback period is 3–5 years or less and you're keeping the house, refinance. Longer payback = riskier.
What costs go into refinance?
Origination fee (1%), appraisal ($400–600), title ($400–800), attorney/closing ($500–1500). Total: 2–3% of loan balance.
Should I refinance a 30-year to a 15-year?
Monthly payment jumps 30–50%, but you pay off faster and save interest. Model both; choose based on cash flow tolerance.
When should I do a cash-out refinance?
When you need capital and rates are favorable (refinance cost justified by savings or property equity extracted).
Is this calculator free to use?
Yes — create a free Investor Starter account to run 1 calculator per day. No credit card required. Upgrade to Core ($49/mo) for unlimited access to all 67 calculators.
How accurate are the results?
Results are only as accurate as your inputs. The formulas use industry-standard real estate investment math. Always verify with a licensed professional before committing capital.
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