Finance & Investment
Mortgage Refinance Calculator
Mortgage Refinance: mortgage Refinance Calculator compares your current loan's EMI and total interest against a new rate and term, and uses the fee you enter to work out the break-even months; charges and taxes you don't enter are excluded. Worked through below with real figures, and the calculator repeats the working on your own inputs — free, on-device, instant.
Mortgage Refinance Calculator turns your current loan balance, current interest rate, remaining years and new interest rate into a clear figure with the supporting breakdown using standard financial formulas. The maths runs locally, so nothing you enter leaves the page.
About this calculator
Mortgage Refinance is easiest to get wrong in the setup, not the arithmetic. Mortgage Refinance Calculator compares your current loan's EMI and total interest against a new rate and term, and uses the fee you enter to work out the break-even months; charges and taxes you don't enter are excluded. It matters any time money changes value over time — savings, loans, investments, prices and pay all reduce to these relationships. The worked example on this page (Refinancing a 250,000 balance from 8% to 6.5% (20 years) cuts the EMI from 2,091.1 to 1,863.93 — saving about 227.17/month before fees.) shows the full substitution; the calculator above runs the same working on your own numbers, in your browser, with nothing uploaded.
How to use
- Enter your current loan balance and interest rate.
- Enter the remaining years on your current loan.
- Enter the new rate, new term, and refinancing fees.
- Press Calculate to see savings and break-even.
Why use Mortgage Refinance Calculator
Fast
Calculations run in your browser. No round trip to a server.
Private
Your inputs never leave your device. Nothing is uploaded.
Free
No signup, no paywall, no ads-in-results, no watermarks.
Educational
Uses simplified financial formulas for educational estimates. Results may not include fees, taxes, insurance, lender rules, penalties, or credit decisions.
Mobile-ready
Optimised for phones, tablets, and desktops alike.
Transparent
Clear about the method used and its limits, with disclaimers where they matter.
Common uses
Use it when weighing a refinance
Use it when reviewing an existing loan
Use it for switching to a lower rate
Use it for shortening the loan tenure
Use it when rates have dropped
Use it when comparing lenders' offers
Technical notes
Mortgage Refinance Calculator compares your current loan's EMI and total interest against a new rate and term, and uses the fee you enter to work out the break-even months; charges and taxes you don't enter are excluded.
Only the fee you enter is counted, for the break-even months; other lender charges and taxes are not included.
Results are rounded for display; the underlying calculation keeps full precision.
FAQ
How is refinancing benefit calculated?
It compares your current monthly payment with the new one, shows the monthly saving, and divides the fees by that saving to find the break-even month.
Does refinancing include closing costs?
Yes — enter them as the refinancing fees. Break-even tells you how many months of savings it takes to recover those costs.
Can the old and new terms differ?
Yes. The tool computes each payment on its own term, so you can compare keeping your remaining years against a fresh term.
Does the Mortgage Refinance Calculator send my data to a server?
No. The Mortgage Refinance Calculator runs entirely in your browser — your inputs never leave your device, and nothing is uploaded or stored.
Worked example
Refinancing a 250,000 balance from 8% to 6.5% (20 years) cuts the EMI from 2,091.1 to 1,863.93 — saving about 227.17/month before fees.