Mortgage Refinance Calculator
A mortgage refinance calculator should show more than the monthly payment delta. This page compares a $320,000 balance at 7.0% with 26 years remaining against a new loan at 6.25% over 30 years, including $4,500 closing costs paid up front.
You get three comparisons together: monthly payment change, break-even month, and remaining interest on the current loan versus total interest on the new loan. The same-term row shows what the new rate costs if you keep your remaining term instead of taking a fresh 30.
Use the controls below to model rolled-in closing costs, change the new term length, and download a PDF or CSV of cumulative savings through break-even. Loan figures never leave your browser. Planning estimate only — not financial advice.
Your loan numbers stay in your browser. We never see them, and nothing is saved.
Current monthly payment: $2,229.88
New monthly payment (30 yr): $1,970.30
Monthly difference: $259.58
Same remaining term at new rate: $2,077.47 per month
Break-even: Month 18
Remaining interest on current loan: $375,722.81
Total interest on new loan: $389,303.05
Lifetime interest difference: $-13,580.24
Closing costs ($4,500.00) paid up front; new loan balance $320,000.00.
This is an estimate for planning, not financial advice.
Cumulative savings through break-even
| Month | Monthly savings | Cumulative savings |
|---|---|---|
| 1 | $259.58 | $259.58 |
| 2 | $259.58 | $519.16 |
| 3 | $259.58 | $778.74 |
| 4 | $259.58 | $1,038.32 |
| 5 | $259.58 | $1,297.90 |
| 6 | $259.58 | $1,557.48 |
| 7 | $259.58 | $1,817.06 |
| 8 | $259.58 | $2,076.64 |
| 9 | $259.58 | $2,336.22 |
| 10 | $259.58 | $2,595.80 |
| 11 | $259.58 | $2,855.38 |
| 12 | $259.58 | $3,114.96 |
Showing first 12 of 18 months. Download PDF or CSV for the full table.
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