Refinancing
A refi calculator that shows the whole picture.
A lower payment is only half the story. This shows what you'd pay in total on your current loan versus a new one, including closing costs, the years you've already paid, and how long you plan to stay.
Simple blended rate
Weighted average by balance
Stay vs. refi comparison
Total interest over life of loan
Breakeven calculator
How many months to recover closing costs
If someone only talks about your payment, you're not getting the whole story.
A lower monthly payment can still cost you tens of thousands more over the life of the loan. This page isn't here to push you into refinancing. It's here to show the real math on your current loan and a new one, in plain English.
Know Your Path
What kind of refinance are you considering?
Most people just say "refi." There are a few very different paths, and knowing yours makes our first conversation better.
Rate-and-term refi
You keep roughly the same balance but change the rate, the term, or both. This is usually about lowering your cost, not pulling out extra cash.
Shorter term refi
Your payment may stay close or go up a bit, but you cut years off the loan and can save a lot in interest.
Cash-out refi
You pull cash from your equity for big goals, and you restart part of your loan to do it. The math has to justify the trade.
Debt consolidation refi
You roll other debts into your mortgage. The payment usually drops. The real question is the long-term cost.
Equity / MI removal
If your home has gone up and you've paid down principal, you may be under 80% LTV. Depending on your loan, that can mean dropping mortgage insurance, sometimes without refinancing at all.
"Do nothing" is also a decision
Sometimes the best move is keeping a great loan. The calculator shows when staying put is smarter.
Equity & LTV
What if your home has gone up in value?
Say you bought with 10% down a few years ago. Your home value and your balance have both moved since then, so your loan-to-value (LTV) may look very different than it did at closing. Under 80% can open the door to dropping mortgage insurance, changing your term, or restructuring debt, as long as the math checks out.
Example: equity and MI removal
- ·Purchase: $640,000 with 10% down (90% LTV at closing)
- ·Today's estimated value: $700,000
- ·Balance after about three years of payments: roughly $555,000
- ·Result: about 79% LTV, where MI removal and better structures can come into play.
Use the calculator with your current balance and today's estimated value so the numbers reflect your real situation.
Common scenarios
This is an education tool, not a loan decision.
Use it to understand the math, then let's talk before you change anything.
The Blended Rate Calculator
I built this because the payment was never the whole story.
Start with your blended rate across your mortgage and other debts. Then compare staying put to a new loan, using each debt's real payoff schedule, your closing costs, and how long you plan to stay.
What this calculator is good at
- ✓Your blended rate across your mortgage and other debts.
- ✓Stay vs. refi cost, using your real payoff timelines.
- ✓When a lower payment is a better deal, and when it isn't.
What this calculator can't do
- ✕It doesn't replace a full application or underwriting.
- ✕It doesn't account for every tax, insurance, or fee scenario.
- ✕It doesn't generate a rate quote or loan offer.
What this is: It combines your mortgage with other debts you're carrying (credit cards, auto loans, HELOCs) so you can see whether a cash-out refi to pay them off is worth it, not just whether the payment looks smaller.
Home Value Today (optional, for context)
Your best estimate is fine. Online values work.
If you remember it, add it here so we can see how much your home has appreciated.
This does not create an official appraisal or home value. It just gives us a ballpark so we can talk about equity and options like MI removal.
Your Current Mortgage
Thinking about rolling other debts into your mortgage?
This section models a cash-out refinance where your new mortgage pays off specific debts at closing. Only add debts here if you're considering paying them off in full with cash from your refinance.
💡 Pro tip: check your credit card statement
Your statement has a box that shows: "If you make only the minimum payment, you'll pay off this balance in X years and pay $X in total interest." Use those numbers here for the most accurate comparison.
Debts to Pay Off with This Refinance
Auto loans, credit cards, HELOCs, personal loans you're considering paying off in full at closing.
For credit cards, enter how long you expect to take to pay it off (e.g. 3 to 5 years).
* Remaining interest is calculated off each debt's actual current balance and payoff schedule, not a flat estimate. All figures are estimates.
What to do with your result
Green doesn't mean "do it," and red doesn't mean "never." It's a starting point for a real conversation.
Green: The math is trending your way. Send it to me and we'll confirm with real numbers.
Yellow: There may be a version that works, or a better path like a shorter term or partial prepayments. Let's talk before you decide.
Blue: Your payment goes up, but you come out ahead overall. Worth it if the higher payment is comfortable for you.
Red: Let's look at what would need to change.
Disclaimer: This tool is for educational purposes only. It does not display live interest rates, does not lock your rate, and does not constitute a commitment to lend or a formal recommendation. Actual terms depend on a full application, underwriting, and current market conditions.
Worth It or Not
When a refinance can make sense.
A few situations where a refi often makes sense, and a few where it usually doesn't.
Often worth exploring
- ✓Paying off a high-rate second mortgage or HELOC.
- ✓Removing mortgage insurance when your loan requires a refinance to do it.
- ✓Moving into a meaningfully lower rate, with years ahead of you in the home.
- ✓Shortening your term, when the interest you save outweighs a higher payment.
Often better to pause
- –You already have a low fixed rate and years of principal paid down.
- –You plan to move in the next year or two.
- –The payment feels high, but the calculator shows a big jump in total cost.
Get Your Refi Analysis
Want a second set of eyes on your numbers?
Fill this out and I'll walk through your numbers with you, including whether it makes more sense not to refinance.
Your property address helps me start your equity picture. A formal valuation comes later, at pre-approval.
Not looking to refi?