Free tool

Refinance calculator

Updated November 6, 2026. Runs entirely in your browser; nothing you type is sent anywhere.

Enter your current remaining principal, rate, and term, then a new principal, rate, term, and closing costs. You'll see both principal+interest payments, the monthly difference, a break-even months sketch when savings are positive, and one calm sentence you can adapt. This is arithmetic only—not a lender quote, not a refinance approval, and not financial advice.

How to use the number

• Ask your lender for the real payoff, proposed new principal, and a closing-cost estimate; re-run with those figures.
• For a plain payment sketch without refinance comparison, see the free mortgage payment calculator. For cash to close on a purchase, see the down payment calculator.
• When the hard part is the bill, landlord, raise, or offer call that funds the closing costs, use a script.

What to say when cash or housing is the bottleneck

Knowing the break-even sketch is step one. Saying the next line on a bill, landlord, raise, or offer call is where people freeze. The Bills Kit ($19) gives word-for-word lines for bill and landlord moments plus Call Mode. If pay is the lever that makes the refinance realistic, see the Offer Kit ($29). One-time purchase, 14-day refund on both.

Get the Bills Kit, $19 → Get the Offer Kit, $29 →

How does this refinance break-even sketch work?

It estimates the current loan's remaining principal+interest payment, a new loan's principal+interest payment at your new rate/term/principal, the monthly savings (if any), and months to recover closing costs: break-even months ≈ closing costs ÷ monthly savings when savings are positive. It ignores taxes, points amortization nuances, escrow changes, and prepayment penalties.

Is a lower rate always worth refinancing?

Not always. Closing costs, how long you will keep the loan, and whether the new term restarts the clock can erase the benefit. This page only sketches arithmetic on the numbers you enter.

Is this a loan offer or financial advice?

No. It is simple arithmetic on the numbers you enter, plus a sample sentence you can adapt. It is not a quote, pre-approval, tax advice, or a substitute for a qualified professional or your lender.

What principal should I enter for the new loan?

Often the remaining balance (plus cash-out if any). Ask your lender for the exact payoff and proposed new principal. This page does not pull balances from your account.

Guidance only, not legal, financial, or tax advice. The calculator does simple arithmetic on the numbers you enter.