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Mortgage Refinance Calculator - Should I refinance my mortgage?

You may want to shorten the length of a mortgage or seeking a lower monthly payment. Mortgage Refinance Calculator calculator shows how much you can save/loss and the time to recover closing costs by refinancing your mortgage.

This refinance calculator also give you mortgage analysis and comparisions to guide your decision.

Mortgage Refinance Calculator 
Current Loan
Loan Amount  $
Loan originated on Year
Loan Term Years
Interest Rate %
Total closing costs $
New Loan
Loan Amount 
Loan Term Years
Interest Rate %
Total closing costs $
Result
Current Loan Monthly Payment
New Loan Monthly Payment
Monthly Payment Saving(-) / Loss (+)
Total New Loan Closing Cost
Time to Recover Closing Costs
 
  
Mortgage Analysis & Comparisions
  Before Refinancing After Refinancing
Loan Amount
Loan Term
Interest Rate
Closing Cost
Number of payments made
Number of remaining payments
Total Principal(P) to be paid
Total interest(I) paid
Total unpaid interest(I)
Total Closing Cost
Total Payment(P+I+Closing Cost)
Total Payment Saving(-) / Loss(+) N/A

Use the Mortgage Refinance Calculator

Enter current loan and new loan information:
  • Current loan amount: Enter the original loan amount on loan origination date.
  • New loan amount calculated base on current loan input.
  • Loan term: Length of time you choose to pay off your loan. e.g. 30 years, 20 years, 15 years.
  • Closing Cost: Costs for services that must be performed to process and close the loan application.Closing costs includes discount points,origination fee, title fee, recording fee, appraisal fee, credit report fee etc.
Click the "Calculate" button to find the result.

Note: The information provided on or through this site and all mortgage calculators is for purposes of general consumer education only. and is not intended as a substitute for advice from a qualified professional.

 
 
Mortgage Rate 
Loan Type Rate APR
30-Year Fixed 4.215% 4.340%
15-Year Fixed 3.500% 3.625%
7/1 ARM 3.375% 3.400%
5/1 ARM 3.000% 3.125%
 
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