Mortgage Refinance Calculator

Calculate your potential savings from refinancing your mortgage. Compare current vs new rate, break-even period, and total interest savings.

Current Mortgage

Current Balance

Current Rate

Years Remaining

yrs

Interest Type

Rate locked for the full term — stable, predictable payments

Current Term

Your current rate lock-in period

Current Qualifying Rate (Stress Test)

8.50%

max(6.50% + 2%, 5.25%)

New Mortgage

New Interest Rate

New Amortization

yrs

Interest Type

Rate locked for the full term — stable, predictable payments

New Term

New rate lock-in period after refinancing

New Qualifying Rate (Stress Test)

7.00%

max(5.00% + 2%, 5.25%)

Refinancing Costs

Prepayment Penalty

Closing / Legal Costs

Current Monthly Payment

$3,332

New Monthly Payment

$2,957

Monthly Savings

+$375

Break-Even Period

28 months

Net Interest Savings

$79,545

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Disclaimer: All calculations are estimates for informational purposes only. No data is collected or stored. Consult a qualified financial advisor before making financial decisions.