A home mortgage refinance calculator to discover how long it will take to breakeven on your new loan.

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Home Mortgage Calculator

Refinance Calculator

This mortgage calculator will compare your existing home mortgage with a new loan that you are considering. It will compute how long it will take to break even on the new loan.

  • Remaining loan balance - this will be listed on your mortgage statement or you can obtain this amount by calling your current lender.
  • Current interest rate - annual interest rate for the current loan. If this is not on your monthly statement, you may need to look at your original loan papers.
  • Years left on current loan - how many years does your mortgage have left?
  • Current payments / year - how many payments do you make per year (12 if you pay once a month or 26 for biweekly)
  • Current monthly payment - how much is the principle and interest portion of your current monthly payment? This can be found on your current mortgage statement.
  • Total Loan Fees - these are all of the closing costs including any points for the loan. Use our closing cost calculator for a better estimate.
  • New interest rate - this is not the same as APR.
  • New loan term - how many years will payments be scheduled for the new loan.
  • Payments / Year - how many payments will you make per year (12 for monthly or 26 for biweekly)
Current Loan New Loan
Remaining loan balance Total loan fees
Current interest rate New interest rate
Years left New loan term
Payments per year Payments per year
Current monthly payment



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