Calculator

Mortgage Refinance Calculator

Estimate the new principal-and-interest payment after refinancing and compare it with your current mortgage payment.

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The calculation amortizes the remaining balance over the new term at the new fixed rate. Closing costs, cash-out proceeds, escrow and prepayment penalties are excluded unless added to the new balance.

Refinance payment formulaNew payment = P × r(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)

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Refinancing a $280,000 balance at 5.5% for 25 years produces an estimated principal-and-interest payment near $1,720 per month before closing costs.

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How do I find the refinance break-even month?

Divide total refinance closing costs by monthly savings. Refinancing is not automatically worthwhile if you expect to sell before that month.

Should closing costs be added to the loan?

Only if the lender finances them. Doing so reduces cash due now but increases the balance and interest.

How often should I recalculate?

Recalculate whenever the balance, rate, term, income, cost or applicable rule changes.

How are decimals and rounding handled?

Calculations retain full number precision and round only the values displayed on screen.

Are my financial values sent to analytics?

No. Calculations run locally, and analytics events contain only the tool ID and action type—not entered amounts.

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Rates and recurring amounts stay constant for the period represented by the formula.
Inputs use the same monthly or annual time basis stated in each field label.
Taxes, fees and contractual rules are excluded unless the calculator explicitly asks for them.