Refinance Calculator

Estimate your break-even time and see whether refinancing lowers your monthly payment and total interest enough to justify the closing costs—based on your current loan, your new rate, and how long you plan to stay.

I know my remaining balance

Current loan balance ($)

Loan interest rate (%)

Current monthy payment (principal & interest) ($)

I know the original loan amount

Original loan amount ($)

Loan interest rate (%)

Years remaining

Months remaining

New interest rate (%)

Estimated closing costs ($)

How long will you keep this new loan ? (years)

Show advanced options

Reset Advanced Options

PMI & Home Value

I currently pay PMI

PMI ($/month)

Estimated home value ($)

Cash In & Cash Out

Cash in amount (pay down the balance of the new loan) ($)

*Paying down your balance at refinance may help you eliminate PMI—typically once your loan-to-value (LTV) reaches 80% or lower.

Cash out amount (balance is added to new loan) ($)

*Cash-out refinancing is typically limited to an 80% loan-to-value (LTV), meaning you generally need to keep your new loan at 80% of the home’s value or less.

Credits, Points, & Closing Costs

Lender credit ($)

Roll closing costs into new loan

Discount points (%)

Taxes, insurance & HOA

Include taxes/ insurance/HOA in payment comparison

Homeowners insurance ($/year)

Property taxes ($/year)

HOA ($/month)

Timing & Extra Monthly Payments

Extra payment on new loan ($/month)

Extra payment on current loan ($/month)

Metric	Original loan	New loan	Difference

Notes:

#warningText

Assumptions used:

Disclaimer: This calculator provides estimates for educational purposes only. Results depend on the accuracy of your inputs and simplifying assumptions (such as when you refinance, how fees are handled, and whether PMI applies). It does not include every possible cost or scenario, and it is not a loan offer or financial advice. For an exact quote and a full loan comparison, consult your lender or a qualified professional.