Refinance Calculator

Ready to see how much you could save by refinancing your mortgage? Get an estimate of your overall savings and new monthly payment using today’s numbers and compare with your current home loan to see if refinancing makes the most sense for you at this time.

$

Enter the original loan amount for your home

%

Enter your original loan interest rate

Enter the date of your first payment

 
$

What is the payoff amount for your current loan?

%

We’re using the current average mortgage rate to calculate payments. Your actual rate may vary.

Choose the length of the loan term you plan to use. Standard loan terms are 15 or 30 years.

$

Closing costs are typically between 1-3% of the loan amount. Your current default value is 1% of the loan amount you entered, but you can enter any number to compare costs.

$

A cash-out refinance means your new loan amount is higher than your existing mortgage, and you’re receiving the difference in cash. Enter that cash amount here.

CALCULATE
Your new payment is
per month
Current payment
Monthly Savings

These calculations are tools for learning more about the mortgage process and are for estimation purposes only. Payment shown does not include taxes, insurance, or mortgage insurance (if applicable). This does not constitute an offer or approval of credit. Contact a PrimeLending home loan officer for actual estimates.

For example, a Conventional fixed rate loan with a loan amount of $200,000, on a loan term of 360 months, with a credit score of 740+, down payment of 20%, and an interest rate of 3.375%, will result in an annual percentage rate of 3.452%. Rate pulled 6/18/20, rates change daily. Loans are subject to borrower qualifications, including income, property evaluation, and final credit approval.

Here is a breakdown of your refinance estimate based on the numbers you provided. Want to see more options? Just enter new numbers to calculate and compare.

 
Other calculators you might be interested in: