Refinance Calculator

The Refinance Calculator is an essential online tool designed for homeowners considering the option to refinance their existing mortgage. It helps calculate the potential savings or costs associated with refinancing a home loan by taking into account various factors such as the current loan balance, interest rates, the new potential rate, closing costs, and the loan term. Users can input their specific financial details to receive tailored results, comparing monthly payments, total interest paid, and the breakeven point. This calculator aids in making informed decisions by illustrating the financial implications of refinancing, enabling homeowners to assess whether it's a financially beneficial move based on their unique circumstances.

Current Loan Amount ($): Current Interest Rate (%): Current Loan Term (years): New Interest Rate (%): New Loan Term (years): Closing Costs ($):