Should I refinance my mortgage?
Refinancing trades a lower rate for upfront closing costs. It only wins if you keep the loan long enough for the monthly savings to repay those costs. These calculators do that math for you.
Find your break-even point
Calculates how many months until the monthly savings repay the refinancing costs.
Refinance Break-Even Calculator →What to do with it: If you'll sell or move before break-even, refinancing loses money.
Compare the payments side by side
Shows your current payment versus the refinanced payment with the new rate and term.
Mortgage Payment Calculator →What to do with it: Watch the term — a lower payment from stretching the loan longer can cost more overall.
Consider the alternative: pay it down faster
Shows what happens if you put extra money toward your current mortgage instead.
Extra Mortgage Payment Calculator →What to do with it: Sometimes the best refinance is no refinance — just paying down what you have.
Putting it together
Refinance if the rate drop is meaningful, the break-even is well within your plans to stay, and the total interest over the life of the loan actually falls. Otherwise, extra payments on your current loan may do more.