Refinance Calculator
Enter your current balance, rate, and years left, then the new rate and term you are offered. We show payment change and a simple closing-cost payback. For planning only.
Refinance comparison
Enter values to calculate.
How this is calculated
We amortize the remaining balance at the old rate over the remaining term for the current payment, then at the new rate over the new term for the proposed payment. Savings = old payment minus new payment (not accounting for tax).
When to use it
Rate-and-term refinance, comparing lender offers, or seeing if lower rate offsets closing costs.
Frequently asked questions
How is the payment calculated?
We use the standard amortization formula: rate and term determine the monthly payment.
Is this a substitute for a lender quote?
No. Use for planning; actual terms depend on your lender and situation.
