Mortgage Refinance Calculators
Refinancing may reduce your mortgage rate, lower your monthly payment, change your repayment term or provide access to home equity. However, refinancing also involves costs. Legit Calc's Refinance Calculators help you compare your existing mortgage with new financing scenarios.
Featured Refinance Calculators
📉 Refinance Calculator
Compare your current mortgage with a new loan and estimate monthly savings, interest savings and closing-cost recovery.
Use Calculator →💵 Cash-Out Refinance Calculator
Estimate how much equity may potentially be converted to cash through refinancing.
Use Calculator →📊 ARM Calculator
Estimate adjustable-rate mortgage payments and model how future rate changes may affect costs.
Use Calculator →🔄 Mortgage Recast Calculator
Estimate a new monthly payment after applying a large lump-sum principal reduction.
Use Calculator →💲 Refinance Break-Even Calculator
Estimate how long it may take for refinance savings to recover your closing costs.
Use Calculator →Four Numbers That Matter When Refinancing
- New monthly payment — How much could your payment change?
- Closing costs — What does refinancing cost upfront?
- Break-even period — How long until savings recover those costs?
- Lifetime interest — Will the new loan reduce or increase total borrowing costs?
Recommended Refinance Calculation Path
1. Refinance Calculator — Compare your existing and proposed loan.
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2. Refinance Break-Even Calculator — Estimate cost recovery.
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3. Cash-Out Refinance Calculator — Use if you plan to access home equity.
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4. Mortgage Amortization Calculator — Compare long-term repayment schedules.
Related Refinance Guides
- When Should You Refinance Your Mortgage?
- Understanding the Refinance Break-Even Point
- How Cash-Out Refinancing Works
- ARM vs Fixed-Rate Mortgage
- Mortgage Recast vs Refinance
Frequently Asked Questions
When does refinancing make sense?
Refinancing may make sense when expected savings or other financial benefits outweigh closing costs and other tradeoffs.
What is a refinance break-even point?
It is the estimated amount of time required for monthly refinance savings to recover closing costs.
Does refinancing restart a mortgage?
A refinance replaces the existing mortgage with a new loan and repayment schedule.
What is cash-out refinancing?
A cash-out refinance replaces your existing mortgage with a larger loan and provides part of the difference in cash, subject to qualification and available equity.