Mortgage Refinance Calculator
Test whether a new mortgage improves monthly cash flow and total remaining cost.
Verify this calculatorVerified
See what the result uses—and what it cannot know.
Sumvoro calculates deterministically from the visible inputs. It does not invent lender terms, local rules, market values, medical facts, or professional judgments.
- 1 · InputsCheck every entered value against the latest statement, quote, measurement, or official source.
- 2 · Formula
Net savings = current remaining payments − new payments − refinance costs. - 3 · SensitivityUse Insights to run a lower and higher case. If the conclusion changes easily, collect better information or leave more margin.
- 4 · ScopeThis tool is maintained and covered by automated calculation tests. Provider timing, rounding, and omitted facts can still change a real-world result.
- Formula release
- 2026.10-r4
- Release date
- October 10, 2026
- Review status
- Verified
- Source review
- September 12, 2026
Mortgage Refinance calculator
Savings over the expected holding period should exceed closing costs and any additional long-term interest.
- Use the current payoff balance.
- Include every closing cost.
- Compare at the expected exit date.
Optional readingLearn how this calculator works
How the mortgage refinance calculator works
Compare current and proposed mortgage payments, closing costs, break-even time, and remaining interest.
Net savings = current remaining payments − new payments − refinance costs.
Read our calculation methodology and limitations.
Judge refinancing over the time you expect to keep the loan
Payment savings alone do not show whether replacing a mortgage improves your financial position.
Choose a realistic horizon
Compare costs through the date you may sell, refinance again, or pay off the loan—not only across the new loan’s full term.
Count closing costs once
Financed fees increase the new balance; upfront fees reduce cash. Do not include the same charge in both places.
Compare remaining balances
A longer new term can lower the payment while leaving more debt at the comparison date. Include that balance difference in the decision.
Example
Compare a remaining mortgage balance and term with a new rate, term, and closing-cost estimate.
What affects the result
- Restarting a long term can increase lifetime interest.
- Closing costs delay break-even.
- Taxes, insurance, and escrow changes are outside the principal-and-interest comparison.
Frequently asked questions
What is refinance break-even?
It is the first modeled month cumulative payment savings recover the entered upfront costs.
Does this include cash-out refinancing?
Advanced lets you model cash paid in or received; borrowed cash is not treated as savings.