Refinance Calculator

The Refinance Calculator weighs your current mortgage against a new loan. It shows the new monthly payment, total interest saved (or lost), and the break-even point where closing costs are recovered — the number that decides whether refinancing pays off given how long you will stay.

• Payment compare: Current vs new monthly.
• Interest saved: Lifetime interest difference.
• Break-even: Months to recover closing costs.
• Term awareness: Flags if a longer term adds interest.
• Export: CSV, JSON or plain text.

1. Current loan: Balance, rate, remaining months.
2. New loan: Rate, new term, closing costs.
3. Read: Savings, interest delta, break-even.
4. Export.

Example 1 — Clear win. 7% → 5.5%, costs $4k, saves $180/mo: break-even ~22 months.

Example 2 — Term restart. New 30y on remaining 20y adds total interest despite lower rate.

Example 3 — Shorten. Refi to 15y cuts interest most but raises payment.

Example 4 — High costs. Big closing costs push break-even past your move date.

Example 5 — Small drop. A 0.25% drop may not beat the costs.

• Break-even clarity: Know when refinancing actually pays.
• Avoid traps: See if a longer term erases savings.
• Compare terms: Test 15y vs 30y side by side.
• Private: No account, no upload, nothing stored.