Free Mortgage Refinance Calculator 2026
Should you refinance your mortgage? Use our refinance calculator to compare your current mortgage with a new loan. Refinancing makes sense when the new rate is at least 0.75-1% lower than your current rate AND you plan to stay in the home long enough to recoup closing costs (typically $2,000-$5,000). Calculate your break-even point here. No sign-up required — your data never leaves your browser. Works instantly on desktop, tablet, and mobile. Completely free with no daily usage limits, no watermarks, and no account needed. Trusted by students, professionals, and businesses worldwide. FixFlowHub is a browser-based toolbox with 120+ free utilities covering PDF, image, text, calculator, and productivity tools.
Frequently Asked Questions
When should you refinance your mortgage?
Refinancing typically makes sense when: (1) the new interest rate is at least 0.75-1% lower than your current rate, (2) you plan to stay in the home longer than the break-even point (closing costs ÷ monthly savings), and (3) your credit score has improved since your original mortgage.
What are typical mortgage refinance closing costs?
Mortgage refinance closing costs typically range from 2-5% of the loan amount. On a $300,000 loan, that is $6,000-$15,000. Some lenders offer 'no-closing-cost refinances' which roll the costs into the loan or cover them with a slightly higher rate.
How long does a mortgage refinance take?
A typical mortgage refinance takes 30-45 days from application to closing. The process involves a new appraisal, title search, underwriting, and closing. Some lenders offer streamlined refinances that close faster for existing customers.