How to use a mortgage refinance calculator

1. Enter remaining balance, current rate, and months left.
2. Enter new rate and new term (or use term presets).
3. Enter closing costs; choose whether to roll them into the new loan.
4. Optional: add cash-out amount.
5. Read monthly savings, interest difference, break-even, and the side-by-side table.

Example: $300,000 · 6.5% → 5.5% · 30-year

What it is not

• Not a refinance offer or credit decision
• Not a live rate quote
• Not PMI, escrow, or tax modeling

How we calculate · Questions

Frequently asked questions

What inputs do I need?

Current balance, current rate, months left, new rate, new term, and optional closing costs, roll-in, and cash-out.

Can I share a prefilled link?

Yes—use balance, currentRate, currentMonths, newRate, newMonths, costs, rollCosts, and cashOut parameters.

Sources linked above include U.S. government materials (for example CFPB, FDIC, NCUA, BLS, IRS) where noted. Sample math uses only labeled Nestfigure assumptions—not bank quotes, job offers, or personalized advice. Last reviewed: August 9, 2026.