Refinance Calculator

Compare your current loan payment to a new refinanced payment given a new interest rate and term, and see your estimated monthly savings.

Inputs
Results
New Monthly Payment
$1,589.81
Monthly Savings
$310.19
Annual Savings
$3,722.29

Try an example

Formula

New Payment = Balance × [r(1+r)^n] / [(1+r)^n − 1]

Learn How This Works

How Mortgage Payments Are Calculated: A Full Breakdown

The amortization formula behind every mortgage payment, worked through step by step with a real loan example.

Should You Refinance? Here's How to Actually Run the Numbers

A step-by-step walkthrough for deciding whether refinancing your mortgage is worth it, including the break-even calculation most people skip.

Frequently Asked Questions

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