Refinance Calculator
Compares your current mortgage payment to a refinanced loan.
Inputs
- Current balance ($)
- Current rate (%)
- Months remaining (months)
- New rate (%)
- New term (months)
Example
New monthly payment: $1,703.37
| Current payment | $2,120.34 |
|---|---|
| Monthly savings | $416.97 |
| Lifetime cost difference | -$22,889 |
How it works
Compares principal & interest only and excludes closing costs. A longer new term can lower the payment but raise lifetime cost.
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.
Is the Refinance Calculator free?
Yes — every calculator on Calcova is free and you can download the results to Excel.