Home & Mortgage

Mortgage Refinance Calculator

Compare your current mortgage with a refinance offer and estimate payment changes, breakeven timing, and interest impact.

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Loan amountYour current mortgage or home loan balance.

Current rateCurrent mortgage interest rate.

6.9%

Remaining termEstimated remaining years on the current loan.

New rateQuoted refinance rate.

5.9%

New termNew loan term if you refinance.

Refinance costsEstimated closing costs and fees.

Start dateThe month you want the payoff schedule to begin.

Projection outlook

Track the remaining balance over time and how the payment mix shifts as principal reduces the loan.

By the end of the modeled schedule, the remaining balance trends toward $0 across 21 years of payments.

Refinance payoff profile

Projected balance path under the refinance loan.

Principal vs interest breakdown

Review how much of the payoff goes toward reducing balance versus servicing interest.

Current interest

$374,421

New interest + costs

$244,410

Current interest is the largest component at about 60.5% of the total modeled amount.

Scenario comparison

Use the spread between scenarios to see how sensitive this outcome is to the assumptions you change first.

This comparison is easier to read in the scenario summaries below because the values are not on a shared numeric scale.

Conservative currently leads optimistic by about $195, which shows the approximate range across the modeled cases.

What changes the result most

Base

Refinance payment

$2,416

Optimistic

Slightly lower new rate

$2,320

Conservative

Slightly higher new rate

$2,515

Amortization table

Detailed payment schedule for the accelerated payoff path.

#	Date	Payment	Principal	Interest	Extra	Balance
1	2026-04-01	$2,416	$745	$1,672	$0	$339,255
2	2026-05-01	$2,416	$748	$1,668	$0	$338,507
3	2026-06-01	$2,416	$752	$1,664	$0	$337,755
4	2026-07-01	$2,416	$756	$1,661	$0	$336,999
5	2026-08-01	$2,416	$759	$1,657	$0	$336,240
6	2026-09-01	$2,416	$763	$1,653	$0	$335,477
7	2026-10-01	$2,416	$767	$1,649	$0	$334,710
8	2026-11-01	$2,416	$771	$1,646	$0	$333,939
9	2026-12-01	$2,416	$774	$1,642	$0	$333,165
10	2027-01-01	$2,416	$778	$1,638	$0	$332,387
11	2027-02-01	$2,416	$782	$1,634	$0	$331,605
12	2027-03-01	$2,416	$786	$1,630	$0	$330,819
13	2027-04-01	$2,416	$790	$1,627	$0	$330,029
14	2027-05-01	$2,416	$794	$1,623	$0	$329,235
15	2027-06-01	$2,416	$798	$1,619	$0	$328,438
16	2027-07-01	$2,416	$801	$1,615	$0	$327,636
17	2027-08-01	$2,416	$805	$1,611	$0	$326,831
18	2027-09-01	$2,416	$809	$1,607	$0	$326,022
19	2027-10-01	$2,416	$813	$1,603	$0	$325,208
20	2027-11-01	$2,416	$817	$1,599	$0	$324,391
21	2027-12-01	$2,416	$821	$1,595	$0	$323,570
22	2028-01-01	$2,416	$825	$1,591	$0	$322,744
23	2028-02-01	$2,416	$829	$1,587	$0	$321,915
24	2028-03-01	$2,416	$834	$1,583	$0	$321,081
25	2028-04-01	$2,416	$838	$1,579	$0	$320,244
26	2028-05-01	$2,416	$842	$1,575	$0	$319,402
27	2028-06-01	$2,416	$846	$1,570	$0	$318,556
28	2028-07-01	$2,416	$850	$1,566	$0	$317,706
29	2028-08-01	$2,416	$854	$1,562	$0	$316,852
30	2028-09-01	$2,416	$858	$1,558	$0	$315,993
31	2028-10-01	$2,416	$863	$1,554	$0	$315,130
32	2028-11-01	$2,416	$867	$1,549	$0	$314,264
33	2028-12-01	$2,416	$871	$1,545	$0	$313,392
34	2029-01-01	$2,416	$875	$1,541	$0	$312,517
35	2029-02-01	$2,416	$880	$1,537	$0	$311,637
36	2029-03-01	$2,416	$884	$1,532	$0	$310,753
37	2029-04-01	$2,416	$888	$1,528	$0	$309,865
38	2029-05-01	$2,416	$893	$1,524	$0	$308,972
39	2029-06-01	$2,416	$897	$1,519	$0	$308,075
40	2029-07-01	$2,416	$902	$1,515	$0	$307,173
41	2029-08-01	$2,416	$906	$1,510	$0	$306,267
42	2029-09-01	$2,416	$910	$1,506	$0	$305,357
43	2029-10-01	$2,416	$915	$1,501	$0	$304,442
44	2029-11-01	$2,416	$919	$1,497	$0	$303,522
45	2029-12-01	$2,416	$924	$1,492	$0	$302,598
46	2030-01-01	$2,416	$929	$1,488	$0	$301,670
47	2030-02-01	$2,416	$933	$1,483	$0	$300,737
48	2030-03-01	$2,416	$938	$1,479	$0	$299,799
49	2030-04-01	$2,416	$942	$1,474	$0	$298,857
50	2030-05-01	$2,416	$947	$1,469	$0	$297,910
51	2030-06-01	$2,416	$952	$1,465	$0	$296,958
52	2030-07-01	$2,416	$956	$1,460	$0	$296,002
53	2030-08-01	$2,416	$961	$1,455	$0	$295,041
54	2030-09-01	$2,416	$966	$1,451	$0	$294,075
55	2030-10-01	$2,416	$970	$1,446	$0	$293,105
56	2030-11-01	$2,416	$975	$1,441	$0	$292,130
57	2030-12-01	$2,416	$980	$1,436	$0	$291,150
58	2031-01-01	$2,416	$985	$1,431	$0	$290,165
59	2031-02-01	$2,416	$990	$1,427	$0	$289,175
60	2031-03-01	$2,416	$995	$1,422	$0	$288,181
61	2031-04-01	$2,416	$999	$1,417	$0	$287,181
62	2031-05-01	$2,416	$1,004	$1,412	$0	$286,177
63	2031-06-01	$2,416	$1,009	$1,407	$0	$285,168
64	2031-07-01	$2,416	$1,014	$1,402	$0	$284,154
65	2031-08-01	$2,416	$1,019	$1,397	$0	$283,134
66	2031-09-01	$2,416	$1,024	$1,392	$0	$282,110
67	2031-10-01	$2,416	$1,029	$1,387	$0	$281,081
68	2031-11-01	$2,416	$1,034	$1,382	$0	$280,047
69	2031-12-01	$2,416	$1,039	$1,377	$0	$279,007
70	2032-01-01	$2,416	$1,045	$1,372	$0	$277,963
71	2032-02-01	$2,416	$1,050	$1,367	$0	$276,913
72	2032-03-01	$2,416	$1,055	$1,361	$0	$275,858
73	2032-04-01	$2,416	$1,060	$1,356	$0	$274,798
74	2032-05-01	$2,416	$1,065	$1,351	$0	$273,733
75	2032-06-01	$2,416	$1,070	$1,346	$0	$272,663
76	2032-07-01	$2,416	$1,076	$1,341	$0	$271,587
77	2032-08-01	$2,416	$1,081	$1,335	$0	$270,506
78	2032-09-01	$2,416	$1,086	$1,330	$0	$269,420
79	2032-10-01	$2,416	$1,092	$1,325	$0	$268,328
80	2032-11-01	$2,416	$1,097	$1,319	$0	$267,231
81	2032-12-01	$2,416	$1,102	$1,314	$0	$266,129
82	2033-01-01	$2,416	$1,108	$1,308	$0	$265,021
83	2033-02-01	$2,416	$1,113	$1,303	$0	$263,908
84	2033-03-01	$2,416	$1,119	$1,298	$0	$262,789
85	2033-04-01	$2,416	$1,124	$1,292	$0	$261,665
86	2033-05-01	$2,416	$1,130	$1,287	$0	$260,535
87	2033-06-01	$2,416	$1,135	$1,281	$0	$259,399
88	2033-07-01	$2,416	$1,141	$1,275	$0	$258,258
89	2033-08-01	$2,416	$1,147	$1,270	$0	$257,112
90	2033-09-01	$2,416	$1,152	$1,264	$0	$255,960
91	2033-10-01	$2,416	$1,158	$1,258	$0	$254,802
92	2033-11-01	$2,416	$1,164	$1,253	$0	$253,638
93	2033-12-01	$2,416	$1,169	$1,247	$0	$252,469
94	2034-01-01	$2,416	$1,175	$1,241	$0	$251,294
95	2034-02-01	$2,416	$1,181	$1,236	$0	$250,113
96	2034-03-01	$2,416	$1,187	$1,230	$0	$248,927
97	2034-04-01	$2,416	$1,192	$1,224	$0	$247,735
98	2034-05-01	$2,416	$1,198	$1,218	$0	$246,536
99	2034-06-01	$2,416	$1,204	$1,212	$0	$245,332
100	2034-07-01	$2,416	$1,210	$1,206	$0	$244,122
101	2034-08-01	$2,416	$1,216	$1,200	$0	$242,906
102	2034-09-01	$2,416	$1,222	$1,194	$0	$241,684
103	2034-10-01	$2,416	$1,228	$1,188	$0	$240,456
104	2034-11-01	$2,416	$1,234	$1,182	$0	$239,222
105	2034-12-01	$2,416	$1,240	$1,176	$0	$237,982
106	2035-01-01	$2,416	$1,246	$1,170	$0	$236,736
107	2035-02-01	$2,416	$1,252	$1,164	$0	$235,483
108	2035-03-01	$2,416	$1,258	$1,158	$0	$234,225
109	2035-04-01	$2,416	$1,265	$1,152	$0	$232,960
110	2035-05-01	$2,416	$1,271	$1,145	$0	$231,689
111	2035-06-01	$2,416	$1,277	$1,139	$0	$230,412
112	2035-07-01	$2,416	$1,283	$1,133	$0	$229,129
113	2035-08-01	$2,416	$1,290	$1,127	$0	$227,839
114	2035-09-01	$2,416	$1,296	$1,120	$0	$226,543
115	2035-10-01	$2,416	$1,302	$1,114	$0	$225,240
116	2035-11-01	$2,416	$1,309	$1,107	$0	$223,931
117	2035-12-01	$2,416	$1,315	$1,101	$0	$222,616
118	2036-01-01	$2,416	$1,322	$1,095	$0	$221,294
119	2036-02-01	$2,416	$1,328	$1,088	$0	$219,966
120	2036-03-01	$2,416	$1,335	$1,082	$0	$218,631

Accessibility summary: Current payment is about $2,381 versus $2,416 with the new loan. Breakeven is roughly not reached from payment savings alone. Base: $2,416 (Refinance payment) | Optimistic: $2,320 (Slightly lower new rate) | Conservative: $2,515 (Slightly higher new rate)

Results

The refinance may save about $130,011 after costs.

Current payment is about $2,381 versus $2,416 with the new loan. Breakeven is roughly not reached from payment savings alone.

Current payment

$2,381

New payment

$2,416

Monthly change

-$35

Breakeven

N/A

Interest after costs

$130,011

How to use this output

Start with the main result at the top. Then review the key numbers, look at how the chart changes over time, and compare the Base, Optimistic, and Conservative scenarios before making a decision.

Saved scenarios

Save multiple scenarios to compare optimistic, conservative, and custom planning paths later.

What this tool does

Compares current and refinance monthly payments side by side.
Estimates the breakeven point on refinance costs.
Shows whether the refinance improves cash flow, lifetime interest, or both.

Example scenario

A lower rate can reduce monthly payment, but if the term resets too long or the costs are high, the refinance may not be as compelling as it first appears.

Key assumptions

The refinance costs are treated as upfront cash outflows.
Both current and new loans are modeled as fixed-rate principal-and-interest loans.
The analysis does not include tax effects or cash-out refinancing.

How the math works

Open to review the formulas and planning logic behind this tool.

1.The calculator computes a standard monthly payment for the current loan and the proposed refinance loan.
2.It estimates breakeven by dividing the upfront costs by monthly payment savings where that comparison is meaningful.

Common mistakes

Focusing only on rate instead of rate plus term plus costs.
Ignoring how long you expect to keep the home.
Treating a lower payment as automatically better even if total interest rises.

Best next steps

Once you have a base result, open one related calculator and one guide so you can test the same decision from another angle before acting on it.

Open Home Loan Payoff Calculator Open Extra Payment Mortgage Calculator Read Common retirement planning mistakes

FAQ

Are these outputs guarantees?

No. They are planning estimates based on your assumptions and should be updated as markets, taxes, and spending change.

Do these calculators replace professional advice?

No. They are a strong planning starting point, but tax, legal, and investment decisions should be reviewed with a qualified professional when appropriate.

How often should I revisit my inputs?

A good rule is to revisit assumptions after major income, spending, family, tax, or market changes and at least a few times per year.

Why do the optimistic and conservative scenarios matter?

They help you see how sensitive the result is to assumptions instead of anchoring on one exact output.

Should I include inflation separately?

Yes when the calculator allows it. Separating inflation from returns usually makes the planning logic easier to understand.

What if my real life differs from the model?

That is normal. Use the output as a planning range and update the scenario as new information arrives.

Which metric should I pay attention to first?

Start with the headline summary and the first two or three result cards. Those usually hold the most decision-useful information.

Can I share these results with someone else?

Yes. Major calculators support shareable URL state so you can copy the scenario link and send it directly.

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