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Should I refinance my mortgage?

Find out if you can save money on your current monthly payment with our FREE mortgage refinance calculator!

Let’s find out with the Refinance Calculator

The refinance calculator will tell you if the amount you save in interest will exceed the refinancing costs. The calculated results depend on how long you plan to keep the property. Get started below!

Refinance calculator tips

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Please keep in mind that in this refinance calculator analysis, cash out is not considered as part of the cost of the loan, since the cash could theoretically be put back into it.

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Your tax rate is used to calculate the monthly advantage of your interest deduction. If you wish not to include the interest deduction advantage, you may set your tax rate to 0. Please keep in mind that your tax deduction may be limited beyond the scope of this calculator. Talk to your tax advisor before using these results in your specific situation.

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The total loan cost figure is the present value of all the payments for as long as you keep this property, using the investment rate of return as a discount rate. You may also think of it as the amount you would have to invest today (e.g., in a savings account) to cover all the payments for as long as you keep this property. Negative savings are indicated by brackets.

Calculator disclaimer: The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.

This information is intended for educational purposes only. Products and interest rates subject to change without notice. Loan products are subject to credit approval and include terms and conditions, fees and other costs. Terms and conditions may apply. Property insurance is required on all loans secured by property. VA loan products are subject to VA eligibility requirements. Adjustable Rate Mortgage (ARM) interest rates and monthly payment are subject to adjustment. Upon submission of a full application, a mortgage banker will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to you individual situation.

Happy with the results?

Refinance now!