Mortgage Refinance Calculator
Educational calculators — always consult a licensed professional before making financial decisions.
Your refinance
Balance, rate and months left are all on your latest mortgage statement. Use what you owe now, not the original loan amount.
Check your latest mortgage statement for your payoff balance.
Found on your mortgage statement or closing documents.
A 30-year mortgage taken 5 years ago has ~300 months remaining.
Use a rate you have actually been quoted. A fresh 30-year term can lower the payment while raising total interest.
Current 30-yr fixed average is around 6.5–7%.
A shorter term builds equity faster but increases monthly payments.
Maximizes monthly savings on payment. Best if cash flow is the priority over interest savings.
The total from the lender’s Loan Estimate — origination, appraisal, title and recording. It sets how many months of savings it takes to break even.
1.8% of your current balance
Monthly savings
+$300
Break-even in 17 months
Current Loan vs. Refinanced
Net lifetime analysis
Based on
Refinance estimates are for educational purposes only. Actual rates, closing costs, and terms vary by lender. Consult a licensed mortgage professional.
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From the blog
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Most FHA loans from 2013 on cannot drop mortgage insurance early. This post tests the one escape people ask about, refinancing to conventional, on a low-rate FHA loan at today's rates, then lists the exits that do work.
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Mortgage Refinance Calculator is built and maintained by the RealCostIQ editorial team. Cost ranges and rates are checked against published industry data and contractor quotes, and revised when the underlying figures move. Read our data methodology or more about who builds this. Every calculation runs in your browser — no account, and none of your inputs are stored.
Cost ranges and rates here are checked against contractor quotes and published industry data. If a number still looks off, email Support@RealCostIQ.com and we'll review and fix it.