पुनर्वित्त कैलकुलेटर

See how much you could save by refinancing your mortgage. Compare current vs new loan and break-even.

आपका विवरण

Current Loan

$
$

New Loan Terms

समापन लागत

$
$

Enter your current loan and new loan terms to see savings, break-even, and comparison.

संपूर्ण उपयोगकर्ता मार्गदर्शिका

What is the Refinance Calculator?

This calculator helps you decide whether refinancing your mortgage makes sense. You enter your current loan balance, rate, payment, and months remaining, then the new loan rate and term. It computes your new monthly payment, break-even (how many months until closing costs are recovered by savings), and lifetime savings compared to staying with your current loan.

You can add closing costs and points, choose to roll costs into the new loan, and optionally include cash-out. The recommendation considers both break-even time and total cost over the life of the loans.

Key Formulas

New monthly payment uses the standard amortization formula. Break-even and savings:

New payment: PMT = P × [r(1+r)^n] ÷ [(1+r)^n − 1]

P = new loan amount, r = monthly rate, n = new term in months

Break-even (months) = Closing costs ÷ Monthly savings

Lifetime savings = Current remaining total − (New total payments + closing costs if not rolled).

महत्वपूर्ण अवधारणाएं

Break-even

The number of months until your monthly savings have paid back the closing costs. If you sell or refinance again before break-even, you may not recover the costs.

Closing costs

Fees and points paid at closing. Rolling them into the loan avoids upfront cash but increases the new loan amount and total interest.

Lifetime savings

Total remaining cost of the current loan minus the total cost of the new loan (including closing costs if paid upfront). Positive means refinancing saves money overall.

इस कैलकुलेटर का उपयोग कैसे करें

  1. Enter your current mortgage balance, rate, monthly payment, and months remaining (from your statement or lender).
  2. Enter the new rate and term you are considering.
  3. Add estimated closing costs and points; check 'Roll closing costs into loan' if you will finance them.
  4. Optionally add cash-out amount. Click Calculate to see recommendation, savings, and charts.
  5. Use the Balance Over Time chart to compare how quickly each loan pays down.

अपने परिणामों को समझना

Monthly savings

Current payment minus new payment. Positive means a lower payment after refinancing.

Break-even

Months until savings equal closing costs. Shorter break-even is better if you might move or refinance again.

Lifetime savings

Total cost difference over the life of the loans. Positive means the new loan costs less in total.

Recommendation

Based on break-even and lifetime savings. Consider your plans (how long you will stay) before deciding.

Understanding the Charts

New Loan Cost Breakdown

A doughnut chart showing the new loan amount (principal), total interest over the new term, and closing costs (if paid upfront).

समय के साथ संतुलन

Line chart comparing remaining balance on the current loan vs the new loan by year. Shows how quickly each loan pays down.

महत्वपूर्ण नोट्स

  • Results are estimates. Actual rates, fees, and terms depend on your credit and lender.
  • If you plan to move or refinance again soon, a long break-even may mean refinancing is not worth it.
  • Refinance if you can get a rate at least 1% lower than your current rate; compare multiple lenders.

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