Refinance Calculator
Compares your current mortgage payment to a refinanced loan.
Every calculation runs instantly in your browser, so your inputs are never sent to a server, and the tool is free with no sign-up. You can save the results as an Excel file with live formulas and reuse them later.
Inputs
- Current balance ($)
- Current rate (%)
- Months remaining (months)
- New rate (%)
- New term (months)
Example calculation
New monthly payment: $1,703.37
| Current payment | $2,120.34 |
|---|---|
| Monthly savings | $416.97 |
| Lifetime cost difference | -$22,889 |
Method & notes
Compares principal & interest only and excludes closing costs. A longer new term can lower the payment but raise lifetime cost.
Tips
Change any input and the result recalculates in real time. After downloading the Excel file, you can reuse it by editing only the yellow input cells.
FAQ
How does the Refinance Calculator work?
Compares your current mortgage payment to a refinanced loan. Compares principal & interest only and excludes closing costs. A longer new term can lower the payment but raise lifetime cost.
Can I save the results?
Yes. You can download the results for free as an Excel (.xlsx) file with live formulas that recalculate when you change the yellow input cells.
Is it free?
Yes — all Calcova calculators are free, and you can save results as an Excel file.