Refinance Calculator
Refinancing replaces your current loan with a new one, usually to lower the rate, change the term, or tap equity. Enter the balance you would refinance and today's rate to see the new payment and total interest, then weigh it against your current loan and closing costs.
Your numbers
Loan balance over time
Nothing is saved or sent. The share link holds your numbers, in your browser only.
Amortization schedule
Every payment, split into principal and interest. Export it or print a copy.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 2026 | $1,621 | $10,101 | $302,379 |
| 2027 | $3,407 | $20,036 | $298,972 |
| 2028 | $3,641 | $19,802 | $295,331 |
| 2029 | $3,891 | $19,552 | $291,439 |
| 2030 | $4,159 | $19,284 | $287,281 |
| 2031 | $4,444 | $18,999 | $282,837 |
| 2032 | $4,749 | $18,694 | $278,087 |
| 2033 | $5,075 | $18,368 | $273,012 |
| 2034 | $5,424 | $18,019 | $267,588 |
| 2035 | $5,797 | $17,647 | $261,791 |
| 2036 | $6,195 | $17,248 | $255,597 |
| 2037 | $6,620 | $16,823 | $248,977 |
| 2038 | $7,075 | $16,368 | $241,902 |
| 2039 | $7,560 | $15,883 | $234,342 |
| 2040 | $8,080 | $15,363 | $226,262 |
| 2041 | $8,634 | $14,809 | $217,628 |
| 2042 | $9,227 | $14,216 | $208,401 |
| 2043 | $9,861 | $13,582 | $198,540 |
| 2044 | $10,538 | $12,905 | $188,002 |
| 2045 | $11,262 | $12,181 | $176,740 |
| 2046 | $12,035 | $11,408 | $164,705 |
| 2047 | $12,862 | $10,581 | $151,843 |
| 2048 | $13,745 | $9,698 | $138,098 |
| 2049 | $14,689 | $8,754 | $123,410 |
| 2050 | $15,697 | $7,746 | $107,712 |
| 2051 | $16,775 | $6,668 | $90,937 |
| 2052 | $17,927 | $5,516 | $73,010 |
| 2053 | $19,158 | $4,285 | $53,851 |
| 2054 | $20,474 | $2,969 | $33,377 |
| 2055 | $21,880 | $1,563 | $11,497 |
| 2056 | $11,497 | $224 | $0 |
It is not the rate, it is the break-even
A lower rate looks great, but refinancing costs money up front, typically 2% to 5% of the loan in closing costs. The number that matters is the break-even point: your monthly saving divided into those costs tells you how many months until the refinance pays for itself. If you plan to move before then, it rarely makes sense.
To use this tool for a refinance, enter your remaining balance as the loan amount (set the home price to the balance and down payment to zero), pick the term you want, and use today's rate. Compare the resulting payment and total interest against your current loan.
A lower payment can still cost more
Refinancing a 30-year loan you are 6 years into back to a fresh 30-year term lowers the payment, but it also restarts the clock and can raise the total interest you pay. If the goal is to save money overall, compare total interest, not just the monthly figure, and consider matching the remaining term.