Refinance Calculator
Monthly savings and break-even point. Change the numbers and the result updates instantly.
How it works
Refinancing replaces your current loan with a new one, usually at a lower rate. Compare the new monthly payment to the current one, then divide the closing costs by the monthly saving to find the break-even point in months. If you will move before then, refinancing may not pay.
Example
Example: a $300,000 balance at 7.25% with 27 years left costs $2,112.58 a month. A new 30-year loan at 6.25% costs $1,847.15. Remember that restarting a 30-year term adds years of interest.
Tips
- Change one input at a time to see what moves the result most.
- Use realistic rates. Check current averages before you decide.
- Results are estimates and do not replace advice from a licensed professional.
Frequently asked questions
Is this calculator free?
Yes. There is no sign-up and nothing is stored on our servers; the math runs in your browser.
How accurate is it?
It uses standard formulas, but real offers include fees, rate changes and taxes that can differ. Treat the result as an estimate.
Sources and method
Page last updated November 2026. See our editorial policy and disclaimer.