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Refinance Calculator

Let our free home refinance calculator help you estimate how much you might save by lowering your interest rate.

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How Much Can You Save?

Find out how much you might save by refinancing your home to a lower rate. By refinancing, the total finance charges you pay may be higher over the life of the loan. Change the default values to personalize your savings estimate!

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Calculator assumes a new loan term of 30 years and closing costs of 3.5% of the new loan amount. This calculator is made available as a self-help tool for your personal use. We do not guarantee its accuracy or applicability to your individual circumstances. Resulting calculations are for illustrative and informational purposes only and are not intended as investment or financial advice. Consult a qualified financial advisor before making important personal finance decisions. To get a better understanding of the benefits of refinancing, speak with a loan advisor at Freedom Mortgage.

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Let us help you secure the cash you need for your financial goals. Fill out the form below and one of our licensed Loan Advisors will contact you.

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* This calculator is made available as a self-help tool for your personal use. We do not guarantee its accuracy or applicability to your individual circumstances. Resulting calculations are for illustrative and informational purposes only and are not intended as investment or financial advice. Consult a qualified financial advisor before making important personal finance decisions. To get a better understanding of the benefits of refinancing, speak with a loan advisor at Freedom Mortgage.

A loan advisor from Freedom Mortgage will reach out to you to review your results and discuss the request for a cash out refinance on your home’s equity.

By clicking "Get Your Results," you consent to be contacted, including via automated technology or artificial/prerecorded voice, by Freedom Mortgage and any of its current or future affiliated companies (collectively "Freedom Mortgage") at the phone number(s) and email address(es) provided for marketing purposes about loans, even if your number is listed on a federal, state or internal do not call list . You affirm that you are the subscriber of the phone number(s) and email address or that the subscriber has authorized you to provide this consent. Your consent is not a condition of purchase of goods or services from Freedom Mortgage.
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Based on the values you entered, refinancing might save you
$ a month*

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Lower Your Rate and Payment

A lower rate can help you lower your payment or save money in interest over the life of the loan.

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What Is Mortgage Refinancing?

When you refinance your home, you replace your existing mortgage with a new mortgage that has a lower interest rate or better terms. When you lower your interest rate, you may be able to lower your monthly payment. You could also keep your payment the same and pay off your new mortgage faster. Explore what refinancing might look like for you. Give our refinance calculator a try.

How to Use a Mortgage Refinance Calculator

Our home refinance calculator can be a valuable tool when you are thinking about refinancing. For an estimate of how much you could save, enter these values:

  • Original Loan Amount: The total dollar amount of your mortgage's original principal.
  • Term (Years): How long you have to pay the mortgage back, often 15 or 30 years.
  • Years Paid: The number of years you've been making mortgage payments.
  • Current Interest Rate: The current interest rate on your existing mortgage.
  • New Interest Rate: The new interest rate you believe you might get by refinancing.

Our home refinance calculator estimates your savings based on the information you provide. Your actual refinance savings may be different than this estimate. To refinance your mortgage, you will need to meet our credit and financial requirements.

How a Mortgage Refinance Calculator Can Help You

Generally speaking, refinancing makes sense when today's interest rates are significantly lower than the rate on your existing mortgage. That's because you want the savings from lowering your rate to be worthwhile after you pay the closing costs that typically come with refinancing. Our calculator can help you decide when it's the right time to talk to us about a mortgage refinance.

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