For homeowners

Refinance Calculator

A lower payment is not the same as a cheaper loan. See both figures before you decide.

Refinancing costs money and usually restarts the clock. A new thirty-year loan lowers the payment partly because you are paying for thirty more years — so this shows the monthly saving, what it costs you to get it, and what happens to the total interest. All three matter.

$

Your current balance, not the original loan. Your statement has it.

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Not the original term — what is actually left to run.

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$

Lender fees, title work, appraisal, recording. Ask for a Loan Estimate — it lists every one of them.

A no-cost refinance normally means the costs were added to the balance or bought with a higher rate. They are never actually free.

Lower each month by

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Payment now
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Payment after
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Cost to refinance
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You get that back in
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Interest left on your loan now
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Interest on the new loan
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Difference over the whole loan
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An estimate, not a quote. These figures are estimates for planning only. They are not a loan offer, a quote, or advice. Interest rates, taxes, insurance, and closing costs vary by lender, property, and location. Confirm every number with your lender and a licensed professional before making a decision.

Wondering what this means for your own loan?

Bring your statement and we will go through it with you. No one here sells mortgages, so there is nothing to sell you.

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