Our refinance calculator can help you determine if refinancing your mortgage loan makes sense. Refinancing may be an option if you have high-interest rate mortgage, an adjustable-rate loan, or maybe your payments are becoming unmanageable. By refinancing, you may be able to lower your monthly payments, shorten the term of your loan, or move into a more secure loan.
Note: Calculators display default values. Enter new values to override.
This tool is for informational purposes only. Calculator results are estimates based on your inputs and a 1.5% (of loan amount) closing cost default setting. Contact a bank, credit union, housing advisor, or lender to determine your loan eligibility, obtain accurate costs, and apply for your refinance.
The new mortgage payment amount shown does not include the cost of Mortgage Insurance (MI), which may be required.
Fannie Mae does not offer mortgage loans to consumers and this in no way indicates approval or financing of a mortgage loan.