Mortgage Refinance Calculator
Mortgage Refinance Calculator helps you stress-test mortgage refinance before you sign paperwork or change autopay. You can compare rate and term side by side without sending data off this page.
Your inputs stay on this device—useful for drafts or sensitive figures.
Calculate your payment
How this is calculated
Refinance mode compares an old note (balance, rate, remaining term) with a proposed note, then nets closing costs against monthly savings to show simple payback months.
It does not model tax deductibility of interest unless a field asks for marginal tax rate.
Formula:
Monthly payment = P × [r(1+r)^n] / [(1+r)^n − 1]
Where: P = principal (loan amount), r = monthly interest rate (annual rate ÷ 12), n = total number of monthly payments (years × 12).
Use this tool for
- Shopping Mortgage Refinance offers from two lenders with different points or terms.
- Seeing how an extra principal payment shifts payoff month and interest saved.
- Checking whether a shorter term still fits cash flow after a raise.
Common questions
Does Mortgage Refinance Calculator cover every edge case for Mortgage Refinance?
Confirm units (annual vs. monthly, nominal vs. real) match how your bank or employer reports numbers; mixed units are the most common source of surprise.
Is anything I type sent to NexUtility servers?
Rounding, day-count conventions, or jurisdiction-specific tables can shift results slightly—compare assumptions, not just headline numbers.
