Mortgage Refinance Calculator

Analyze whether refinancing your mortgage makes financial sense. Compare rates, closing costs, and break-even timeline.

🏠 Current Mortgage

Remaining Balance

Interest Rate (%)

Years Remaining

Current Monthly Payment:$1,688.02

Total Interest (Remaining):$256,405.37

✨ Refinance Offer

New Interest Rate (%)

New Loan Term (Years)

Closing Costs

Typically 2-5% of loan amount

New Monthly Payment:$1,419.47

Total Interest (New Loan):$266,010.10

⚠️

NOT WORTH IT - Keep Current Mortgage

Refinancing would cost you more in total interest. The extended loan term negates the rate savings. Keep your current mortgage.

Monthly Savings

+$268.55

Total Interest Savings

$9,604.73

Break-Even Point

19 months

Disclaimer: This calculator is provided as-is for educational purposes. Results are estimates based on the information you provide. Actual mortgage terms, rates, closing costs, and savings may vary. Always consult with a mortgage professional or financial advisor before refinancing.

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