Monthly P&I
Compare the principal-and-interest payment on your current loan with the new scenario.
Mortgage Refinance Calculator
Compare your current mortgage with a potential refinance.
See how a different interest rate, loan term, and estimated closing costs could affect the principal-and-interest portion of your monthly payment. Then use the results as a starting point for a conversation with Juncture Mortgage.
Refinance Comparison
Run your numbers.
Enter your current mortgage information and a potential refinance scenario. Results update when you select Calculate Refinance.
Your mortgage information
Step 1 of 2Current Mortgage
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%
yrs
$
Potential Refinance
$
%
$
Your estimated comparison
Step 2 of 2
Estimated monthly P&I difference
$0
Enter your information and calculate.
Current P&I
$0
Estimated principal and interest only.
New P&I
$0
Estimated principal and interest only.
Break-Even Estimate
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Closing costs ÷ monthly P&I reduction, when applicable.
Remaining Interest Difference
$0
Estimated interest under the entered loan scenarios.
Important: This calculator is for educational estimates only.
It does not include property taxes, homeowners insurance, mortgage insurance,
HOA dues, escrow changes, discount points, prepaid items, or every possible
refinance cost. It is not a loan estimate, approval, rate quote, or guarantee of savings.
What to Compare
Don't judge a refinance by the interest rate alone.
A refinance changes your mortgage. Looking at the whole scenario gives you a more useful comparison than simply looking for the smallest rate.
Time Remaining
A new 30-year term may lower a payment while also extending the time you are making payments.
Closing Costs
Estimate how long it may take for monthly payment savings to offset the closing costs you enter.
Long-Term Interest
Compare estimated remaining interest because a smaller monthly payment does not always mean lower total cost.
Understanding the Results
What does the calculator actually tell you?
This calculator compares two amortizing fixed-rate mortgage scenarios using the numbers you enter. It can help organize the conversation, but it cannot determine whether you qualify for a particular refinance or predict the exact terms a lender may offer.
Monthly payment difference
The difference between the entered or calculated current principal-and-interest payment and the calculated new payment.
Break-even estimate
If the refinance lowers monthly principal and interest, this divides entered closing costs by that monthly difference. It does not account for tax effects, opportunity cost, or every fee.
Remaining interest difference
An estimate of total remaining interest under each scenario. Because the loan terms may be different, this can move in a different direction than the monthly payment.
Review Your Options
The calculator gives you numbers. A loan review gives them context.
If the comparison looks interesting, Juncture Mortgage can review the property, current mortgage, available programs, estimated costs, and your goals.
Refinance Calculator FAQ
Common questions about the numbers.
Does this calculator include taxes and insurance?
No. The calculator compares principal and interest. Property taxes, homeowners insurance, mortgage insurance, HOA dues, and escrow changes are not included.
Why can a lower payment still cost more interest over time?
A refinance can restart or extend the repayment period. A lower monthly payment spread across more months can result in more total interest even if the new interest rate is lower.
What does break-even mean?
For this calculator, break-even is the entered closing costs divided by the estimated monthly principal-and-interest reduction. It is a simplified estimate and should not be treated as a complete financial analysis.
Can I use this calculator for a cash-out refinance?
Yes, you can enter the larger proposed loan amount. Keep in mind that cash-out refinance eligibility depends on property value, available equity, loan-to-value limits, credit, income, program rules, and underwriting.
Does a favorable result mean I will qualify?
No. Calculator results are estimates only. Actual refinance eligibility, rates, costs, terms, and loan amounts depend on the borrower, property, program, market conditions, and underwriting.
Want to compare the calculator with real refinance options?
Talk with Juncture Mortgage about your current mortgage and what you want your next loan to accomplish.