Mortgage ยท Rate-and-Term
Home Refinance Calculator
A mortgage-specific refinance calculator that factors in your home equity and rolls property tax and insurance into the full monthly picture.
Mortgage ยท Rate-and-Term
A mortgage-specific refinance calculator that factors in your home equity and rolls property tax and insurance into the full monthly picture.
This calculator assumes a straightforward rate-and-term refinance — you're replacing your mortgage with a new one for roughly the same balance, just at a different rate or term. If you want to borrow more than you currently owe and pocket the difference, use the cash-out refinance calculator instead.
Principal and interest only tell part of the story. Most lenders escrow property tax and homeowners insurance into your monthly payment, so this calculator adds them in to show the number that will actually leave your account each month.
Refinancing itself typically doesn't trigger a reassessment, though local rules vary. This calculator uses whatever annual tax figure you enter.
Usually yes, since you're repaying the same balance faster, but a shorter term can dramatically cut lifetime interest. Compare the new P&I payment against your budget before choosing a term.