How to evaluate a refinance in 3 easy steps
- 1
Enter your current loan
Remaining balance, current rate, and years left.
- 2
Enter the new loan
The offered rate and term, plus your estimated closing costs.
- 3
Read the verdict
Monthly savings, break-even time, and total interest saved.
Why use the mortgage refinance calculator tool from Super Utility Hub?
Refinancing saves money only if the lower rate's savings eventually exceed the closing costs — and that break-even point is the number that decides the deal.
This calculator compares your current payment with the new loan's payment, totals the interest saved over the new term, and tells you exactly how many months it takes to recoup the closing costs.
- Processes everything in your browser — no upload servers involved
- Free forever with unlimited uses
- Works on Windows, macOS, Linux, Android and iOS
- No watermark or branding on your output, ever
Frequently asked questions
What is the break-even point?
The month when the accumulated monthly savings equal the closing costs. Before that, you have lost money; after it, you are ahead.
Should I extend the term to lower the payment?
Restarting a 30-year term on a 25-year-old loan costs far more in total interest even at a lower rate — the calculator shows that trade-off explicitly.
What costs count as closing costs?
Origination fees, appraisal, title insurance, points, and lender fees. The loan estimate form your lender provides lists them all.