Tool
Refinance Calculator
See your monthly savings and break-even in seconds.
A refinance only pays off when the monthly savings repay your closing costs before you'd sell or move. This calculator runs that break-even from your balance, current rate, and term — so you know whether refinancing is actually the right move, not just whether rates are lower.
- Estimate your new monthly payment at today's rate
- See your break-even point — how long until savings beat closing costs
- Compare keeping your loan vs. refinancing, side by side
Frequently asked
What does a refinance calculator tell me?
It estimates your new monthly payment and your break-even point — the number of months it takes for monthly savings to repay closing costs. Past break-even, the refinance saves you money; before it, it costs you.
Is refinancing worth it if rates only dropped a little?
It depends on your balance and closing costs, not a fixed rate-drop rule. Run the break-even: even a small rate cut can be worth it on a large balance, while a bigger cut may not pencil if you'll move soon.