For information only. This calculator gives estimates, not financial advice. Read our disclaimer.
Should you refinance your home loan?
Answer 7 quick questions about your mortgage. We'll tell you in plain words if a new loan would save you money.
Fill in all the boxes to see your answer
The three numbers that matter
What does this mean?
This is only the loan part of your monthly bill. Property taxes and home insurance stay the same either way, so we leave them out.
What does this mean?
After paying the upfront cost
What does this mean?
We add up all the interest you'd still pay on your current loan, compare it with the new loan, and take off the upfront cost. A longer new loan can lower your monthly bill but cost more in total.
Your loan today vs. the new loan
| Today | New loan | |
|---|---|---|
| Interest rate | ||
| Monthly payment | ||
| Years left to pay | ||
| Interest still to pay |
Where does the new rate come from?
When the upfront cost pays for itself
What this means for you
Thinking of buying instead? See if a home fits your budget →
How we use your information
- We keep your email, the loan numbers you typed in, your result and the date. Nothing else.
- To stop spam signups, we also keep a scrambled version of your internet address for one hour, then delete it.
- We use them to email you your breakdown, tell you if refinancing becomes worth it for you, and send you the Nett Daily newsletter.
- We only share your details with lenders if you tick "Have lenders send me quotes". If you don't, they never see them.
- We never ask for your Social Security number, bank account numbers or home address.
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This is an estimate to help you think it through, not financial advice. Real rates and fees depend on the lender and your full situation.