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Refinance Calculator

Compare current vs refinanced mortgage payments, total savings, and break-even point for closing costs Free, fast, and private — runs entirely in your browser.

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How to Use Refinance Calculator

  1. 1Enter your values in the input fields.
  2. 2Adjust settings and options as needed.
  3. 3View your results instantly below.
  4. 4Copy or share your results.

Frequently Asked Questions

Enter your values into the calculator fields, and results update instantly. All calculations run in your browser — no data is sent to any server.

Yes, completely free with no sign-up required. Use it as many times as you need.

Our calculator uses standard formulas and up-to-date data. Results are estimates — consult a professional for decisions involving significant money or health.

You can copy or screenshot your results. The calculator runs locally in your browser, so your data is never stored on our servers.

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About Refinance Calculator

Compare current vs refinanced mortgage payments, total savings, and break-even point for closing costs Free, fast, and private — runs entirely in your browser.

NexTool's Refinance Calculator is completely free to use with no sign-up required. Your data is processed directly in your browser and never sent to our servers, ensuring complete privacy and instant results.

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Learn More

Finance · 8 min readHow to Refinance Your Mortgage: Complete Guide to Saving ThousandsLearn when to refinance your mortgage, how to calculate your break-even point, and the difference between rate-and-term vs cash-out refinancing. Includes real numbers and a free calculator.

Compare Options

Best Of · 5 options reviewedBest Mortgage Refinance Companies of 2026Refinancing your mortgage can lower your monthly payment, reduce your interest rate, shorten your loan term, or let you tap into your home equity. This 2026 comparison ranks the top refinance lenders by their current refinance rates, closing costs, time to close, cash-out options, and customer satisfaction scores. We evaluated rate-and-term refinances, cash-out refinances, and streamline refinance programs for FHA and VA loans. Whether you want to drop PMI by refinancing from an FHA to a conventional loan, switch from a 30-year to a 15-year term to save on total interest, or pull cash out for home improvements, this guide helps you find the refinance lender that offers the best rate and lowest total cost for your specific refinancing goal. Use our refinance calculator to determine your break-even point and total savings.

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Current Mortgage

$
%
yrs
$

Leave blank to auto-calculate: $1,688.02/mo

Refinanced Mortgage

%
yrs
$
%
✓

Refinancing saves you $4,922 over 30 years

You break even after 15 months (1.3 years). After that, you save $307.51 every month.

Monthly Savings

+$307.51

Interest Saved

$9,422

Break-Even

15 mo

Net Savings

$4,922

How Refinancing Works

When it makes sense:

  • Rate drops 0.75%+ from your current rate
  • You plan to stay in the home past the break-even point
  • Your credit score has improved significantly
  • You want to switch from ARM to fixed rate

What to consider:

  • Closing costs typically run 2-5% of the loan
  • A longer term may lower payments but increase total interest
  • Discount points buy down the rate (1 point = 1% of loan)
  • Cash-out refi increases balance but provides funds