Refinance Calculator
Find out if refinancing makes financial sense by comparing your current loan with potential new terms.
Enter Loan Details
Enter your current and new loan details to see if refinancing makes sense for you.
Understanding Loan Refinancing
When to Refinance
- Lower Interest Rates: Rates have dropped at least 0.5% since your original loan
- Improved Credit Score: Your credit has improved significantly, qualifying you for better rates
- Shorten Loan Term: Pay off your loan faster without significantly increasing monthly payments
- Cash-Out Needs: Access home equity for renovations, debt consolidation, or investments
- Remove PMI: If home value increased, refinancing can eliminate mortgage insurance
Refinancing Costs
- Application and origination fees (0.5-1% of loan amount)
- Appraisal fees ($300-$500 for home valuation)
- Title search and insurance costs
- Credit report and underwriting fees
- Consider paying discount points to lower your rate if staying long-term
More Calculators
Explore more calculators and tools to help with your everyday tasks.
JSON Formatter
Format, validate, and beautify JSON data with syntax highlighting.
Dice Roller
Roll various dice combinations for tabletop games and D&D.
Budget
Visualize your income and expenses with an interactive sankey diagram showing where every dollar goes.
Calories & Macros (TDEE)
Determine your Total Daily Energy Expenditure and daily calorie requirements for your goals.
LaTeX Equation Editor
Create beautiful mathematical equations using LaTeX. Visual toolbar with symbols, functions, matrices, and more. Download as PNG or copy LaTeX code.
Mortgage Payment
Calculate monthly mortgage payments including principal, interest, taxes, and insurance.