Refinance Calculator

Refinance Mortgage Calculator

Compare your current mortgage with a new refinance loan to estimate your monthly savings, total interest, and break-even point.

Current Mortgage Details

Remaining Mortgage Balance ($)

Current Interest Rate (%)

Remaining Loan Term

Current Home Value ($)

Current Monthly Mortgage Insurance ($)

New Refinance Loan

Refinance Type

New Interest Rate (%)

New Loan Term

Cash Out / Cash In Amount ($)

For cash-out, enter the additional funds you want to receive. For cash-in, enter the amount you will contribute toward reducing the new loan.

Refinance Closing Costs ($)

Finance closing costs into the new loan

New Loan Expenses

Annual Property Taxes ($)

Annual Home Insurance ($)

Monthly HOA ($)

New Monthly Mortgage Insurance ($)

Other Monthly Costs ($)

Extra Monthly Principal Payment ($)

Refinance Results

See your estimated new payment and compare it with your existing mortgage.

New Estimated Monthly Payment $1,798

New Loan: $306,000 New LTV: 68%

Current Principal & Interest$1,996

Current Total Monthly Payment$1,996

New Principal & Interest$1,834

Property Taxes$400

Homeowners Insurance$150

New Mortgage Insurance$0

HOA & Other Costs$0

Monthly Savings$198

Refinance Summary

Existing Loan Balance$300,000

Cash Out / Cash In$0

Closing Costs$6,000

Closing Costs Financed$6,000

Cash Required at Closing$0

Estimated Break-Even Point30 months

Current Remaining Interest$418,000

New Total Interest$360,000

Estimated Interest Difference$58,000

New Loan Payoff Time30 years

Payment Comparison

Refinance Comparison

Refinance Amortization Schedule

View your new loan's projected principal, interest, and remaining balance over time.

Schedule View

Select Year

Disclaimer: This refinance calculator provides estimates for informational purposes only and does not constitute a loan offer, approval, or commitment to lend. Actual interest rates, loan terms, closing costs, mortgage insurance, eligibility, and savings vary by lender, borrower qualifications, property value, and loan program. Refinancing may increase total interest paid or extend the repayment period. Contact a licensed mortgage professional for personalized loan terms.

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DISCLOSURES & LICENSING: Aggressive Mortgage LLC, NMLS #2408512. Tori Deshaun Simmons, Mortgage Loan Originator, NMLS #2264220. Licensed mortgage broker in the State of Georgia. Equal Housing Opportunity. This is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, and property eligibility. Programs, rates, terms, and conditions are subject to change without notice. For licensing information, visit www.nmlsconsumeraccess.org.