Refinance Savings Calculator
Find out if refinancing your mortgage makes financial sense. Calculate monthly savings, break-even point, and lifetime savings.
Part of our Finance Calculators collection.
Refinance Savings Calculator
Free online calculator
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How to Use This Calculator
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Enter all required values.
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See results instantly.
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Adjust inputs to compare scenarios.
How This is Calculated
Monthly Savings = Current Payment − New Payment Break-Even = Closing Costs / Monthly Savings Lifetime Savings = Monthly Savings × Remaining Months − Closing Costs
Example Calculation
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Frequently Asked Questions
When does refinancing make sense?
Generally when you can reduce your rate by 0.5–1%+ and plan to stay long enough to recoup closing costs. Break-even in under 3 years is usually a good sign.
What are typical refinancing closing costs?
2–5% of the loan amount, or roughly $3,000–$15,000. Some lenders offer no-closing-cost refinances that roll costs into the rate.