Refinance Calculator
Model a refinance using your current balance or original loan details, then compare monthly payment, interest, and payoff against a new loan—with optional cash-out, points, and closing costs.
Current loan
Combine with years for exact remaining term (e.g. 26 years + 3 months).
New loan
Discount/origination expressed as percent of the new loan amount.
Extra borrowed beyond paying off the current balance (typical for mortgages).
If unchecked, closing costs are assumed paid upfront (used for breakeven on payment savings).
Estimated payoff balance refinanced:
| Current loan | New loan | Difference | |
|---|---|---|---|
| Loan amount | |||
| Interest rate | — | ||
| Term (months) | |||
| Monthly P&I | |||
| Total interest | |||
| Total P&I paid |
Closing costs:
Monthly payment change:
Breakeven (recover upfront costs):
Figures assume fixed rates, level payments, no prepayment penalties, and that the new loan fully pays off the remaining balance shown. Total interest on the current loan is estimated over the remaining term only. This is educational—not lending advice.