Where do I find my current numbers?

Your latest mortgage statement shows the balance and rate. The years left are on the statement or your loan documents.

Where do the new rate and costs come from?

From a lender's Loan Estimate for the refinance. Use real quotes, not ads.

Does this include cash-out?

No. It compares a rate and term refinance of the same balance with costs paid at closing. For cash-out, ask the lender for a Loan Estimate on the larger loan.

Calculators

Refinance break-even calculator

Enter your current loan and a lender's refinance offer. See the new payment, the monthly savings and how long it takes to earn back the costs.

Your numbers

The numbers filled in are examples only. Replace them with your own.

Current loan balance

Current interest rate (percent per year)

Years left on current loan

New interest rate (percent per year)

New loan term (years)

Refinance closing costs

Results

Monthly savings: $187
Current principal and interest: $2,120
New principal and interest: $1,933
Interest left on current loan: $336,101
Interest over the new loan: $279,871

Estimate only, not a loan offer or advice. Real costs depend on your lender, credit, taxes and insurance quotes.

Questions people ask

Where do I find my current numbers?: Your latest mortgage statement shows the balance and rate. The years left are on the statement or your loan documents.
Where do the new rate and costs come from?: From a lender's Loan Estimate for the refinance. Use real quotes, not ads.
Does this include cash-out?: No. It compares a rate and term refinance of the same balance with costs paid at closing. For cash-out, ask the lender for a Loan Estimate on the larger loan.