Mortgage Refinance Calculator


Original Mortgage










New Mortgage









Use mortgage refinance calculator tool to see if refinancing into a different rate, change in mortgage term or taking cash out of your house makes sense for you. Our refinance tool will help you compare rates, terms, closing costs and monthly payments. You can obtain the information for the original mortgage amount from your monthly mortgage statement.
If you’re considering lowering your mortgage rate or shortening the term, then the new mortgage amount will likely be your current remaining mortgage balance. If you’re considering taking cash out of your home, then add the desired cash-out amount to your current mortgage amount and enter it in the Mortgage Amount section.
The breakeven point is when your monthly savings will amount to more than refinance costs. Your true monthly savings will begin after the breakeven point.
Refinance costs are very important to know and we encourage you to shop and compare at least three offers before making your decision. We offer some of the industry’s lowest closing costs and rates so please consider us when shopping for a mortgage loan.

When the mortgage refinancing make sense?

It is important to pay attention to Max Possible Savings and Savings When Fully Amortized indicators.
Here is something most mortgage brokers won’t tell you:
a lower rate will save you in monthly payments, but only up to a point, then you might have to pay off the remainder balance or otherwise dispose of the mortgage or the accumulated savings from the refinance might be lost. In other words, a refinance could be a bad idea, even if it saves you in monthly payments. Refinancing can get confusing. Some states limit the number of refinances you can obtain in a given period. If done properly, the accumulated savings from a refinance can amount to tens of thousands of dollars. We recommend speaking with a professional mortgage officer to make sure you choose the best possible strategy going forward. Also fill free to use our mortgage payment calculator tool to estimate you monthly payments.