Example: Current balance: $350,000 · Current rate: 7.25% · Years left: 26 yrs · New rate: 6.125% → Monthly savings: $369.01.
Break-even on closing costs: 1 year, 5 months
Old payment: $2,495.65
New payment: $2,126.64
Frequently asked questions
How do I calculate mortgage refinance? Enter your numbers above and the result updates instantly. For example: Current balance: $350,000 · Current rate: 7.25% · Years left: 26 yrs · New rate: 6.125% → Monthly savings: $369.01.
Is this Mortgage Refinance Calculator free? Yes — completely free with no sign-up or paywall. It runs entirely in your browser and keeps working offline; the numbers you enter never leave your device.
How accurate is it? It uses the standard published formula for mortgage refinance. Results are estimates for planning — not financial, tax, medical, engineering, or legal advice.