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Refinance Calculator

Mortgage Refinance Calculator

Determine if it makes sense for you to refinance your mortgage. Analyze potential savings in your monthly payment and total interest expense achieved by refinancing. Compare different mortgage types and terms to understand the refinancing option that works best for you

Watch our Mortgage Refinance Calculator "How To" video

Inputs

The amount of your current monthly mortgage payment
Please Enter Current Mortgage Payment
Your current mortgage balance. You can find this figure on your most recent monthly mortgage statement or by calling your lender
Please Enter Current Mortgage Balance
Amount of new mortgage
Please Enter Amount of New (Refinanced) Mortgage
Select the mortgage type for your new (refinanced) mortgage -- Fixed Rate, Adjustable Rate Mortgage or Interest Only
Please Select New Mortgage Type
The current interest rate for a 30 year fixed rate mortgage is approximately 6.000%
Please Select Rate of New Mortgage
The length, in years, of your new mortgage. The most common mortgage term is 30 years
Please Select Term (Years)
One-time costs such as lender fees and points, title insurance, appraisal fee and attorney fees (in the South)
Non-Recurring Refinancing Closing Costs
Submit Valid Info to Compare Lenders and Save Money!When you provide valid personal info we may connect you with lenders which enables you to compare mortgage proposals and find the mortgage that is right for you. Click calculator for a version of this calculator that does not require personal info
 
Please Enter Your First & Last Name
Please Enter a Valid First Name
Please Enter a Valid Last Name
 
Please Enter Your Phone Number
Please Enter a Valid Phone
Please Enter Your Email
Please Enter a Valid Email
Your credit score to the best of your knowledge
Please Select Credit Score
By clicking the button above, you agree to allow FREEandCLEAR to connect you with lenders or other third parties and that FREEandCLEAR and other parties may contact you at the email address and phone number you provided, even if your number appears on a Do Not Call Registry or List. Your consent is not a condition to work with a lender or to qualify for a mortgage. Please review our Privacy Policy for more information. NMLS: 357085

Outputs

Monthly mortgage payment based on new mortgage terms
Total interest expense you will pay over the life of your new mortgage based on the terms of your refinancing
Depending on your existing mortgage balance, the amount of your new mortgage and the amount of closing costs, you may be able to keep some of the proceeds when you refinance your mortgage. The value of your property and LTV ratio will also determine your ability to take cash out when you refinance. In some cases, you may also be required to contribute money to cover closing costs
Savings from Refinancing
The amount of money you save (or additional expense you incur) per month by refinancing
The amount of time it will take you to recover the non-recurring closing costs required to refinance your mortgage based on your monthly mortgage payment savings

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Current Mortgage Rates in San Diego1, California1 as of March 11, 2025
View All Lenders

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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.
While we pride ourselves on the quality and breadth of the FREEandCLEAR mortgage calculators please note that they should be used for informational purposes only. Our calculators rely on assumptions by us and inputs and assumptions provided by you, which may be inaccurate. The outputs from our calculators are estimates only and should not be used as the sole basis for making any financial decisions. Always consult multiple financial professionals when determining the mortgage size and program that is appropriate for you.
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