Mortgage Refinance Calculator

Analyze whether refinancing your mortgage makes financial sense. Get detailed cost-benefit analysis and personalized recommendations.

Mortgage Details

Current Mortgage

Remaining principal balance
Principal + interest only

New Loan Details

Total fees to close the loan
Discount points paid upfront

Property Information

Current appraised value
Additional cash needed

How It Works

1

Enter Current Mortgage

Provide details about your existing loan including balance, rate, and payment.

2

New Loan Details

Input the new interest rate, term, and any associated costs.

3

Get Analysis

Receive detailed recommendations and break-even analysis.

Key Factors Considered

  • • Monthly payment changes
  • • Total interest over loan life
  • • Break-even timeline
  • • Closing costs and points
  • • Cash-out requirements
  • • Loan-to-value ratios

When to Refinance

  • ✓ Interest rates have dropped significantly
  • ✓ Your credit score has improved
  • ✓ You need cash for major expenses
  • ✓ Break-even period is under 5 years

Costs to Consider

  • Origination fees0.5% - 1.5%
  • Appraisal$400 - $800
  • Title insurance$1,000 - $3,000
  • Recording fees$100 - $500