About this calculator
Refinancing a mortgage is one of the most impactful financial decisions a homeowner can make, yet most people go in blind. Our home refinance calculator gives you the full picture: how long it takes to recoup closing costs, how much you save per month, and what you keep over the life of the loan.
What it shows you
- Break-even point in months and years
- Monthly payment before vs. after
- Total interest saved over the loan term
- Cash-flow impact starting day one
- Net benefit at any future date you choose
What you'll enter
- Current loan balance, rate, and remaining term
- New loan amount, rate, and term
- Estimated closing costs
- Optionally, your monthly mortgage insurance, current loan-to-value, and the loan-to-value where it would drop off, to count the insurance a refinance removes early
When to use it
- Rates have dropped and you want to know whether refinancing pays off
- You want to know how long it takes to earn back the closing costs
- Comparing your current loan with a specific refinance offer
Why it matters
A lower rate does not always mean a better deal. Closing costs, remaining loan balance, and how long you plan to stay all affect the real outcome. This calculator surfaces the tradeoff so your client walks out understanding, not just informed.
Read the guide
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