Mortgage Refinance Calculator

Use this calculator to compare the benefit of refinancing and keeping the current mortgage.

Current Loan

Current property value
Original loan amount
Original loan term (years)
Mortgage rate
Loan start date
Loan balance

New Loan

Cash out
(added to loan amount)
Loan amount
Loan term (years)  
Mortgage rate
Refinance fee
(added to loan amount)

Refinance Consideration

Current

New

Difference
Monthly payment
10-year payment
All future payment
All future interest
Cash out amount
Implicit interest rate
Future Monthly Payment Difference

This tool helps answer :

  1. Is it worth it to refinance a mortgage for a lower interest rate, with additional up-front loan fee?

  2. If I need extra cash now, is cash out from a mortgage refinance better than personal loan? What is the implicit interest rate of cash out?

Index

Related Items

Mortgage selection and affordability calculators To buy or rent a house analysis To sell or keep the house analysis