Refinance Calculator 2026
Free refinance calculator. Calculate your monthly savings, break-even point, and total interest saved by refinancing your mortgage or auto loan.
Mortgage Refinance Calculator
🔄 Should You Refinance?
When Does Refinancing Make Sense?
| Rate Drop | Monthly Savings ($300K) | Break-Even | 30-Year Savings |
|---|---|---|---|
| 0.50% | ~$90 | ~56 months | ~$27,000 |
| 0.75% | ~$135 | ~37 months | ~$43,000 |
| 1.00% | ~$180 | ~28 months | ~$60,000 |
| 1.50% | ~$265 | ~19 months | ~$90,000 |
| 2.00% | ~$350 | ~14 months | ~$121,000 |
💡 The 1% Rule
Refinancing generally makes sense if you can reduce your rate by at least 0.75-1% AND plan to stay in your home past the break-even point. Don't forget to factor in closing costs (typically 2-5% of loan amount).
Types of Refinance
| Type | Purpose | Best For |
|---|---|---|
| Rate-and-Term | Lower your rate or change term | When rates drop 0.75%+ |
| Cash-Out | Take equity as cash | Home improvements, debt consolidation |
| Streamline (FHA/VA) | Simplified refi for government loans | FHA/VA borrowers with less paperwork |