How to Use the Mortgage Refinance Calculator
Enter current loan balance, current rate and remaining tenure. Then enter new rate, new tenure, and refinancing fees. The calculator shows monthly savings, break-even period, and total savings.
Mortgage Refinance Calculator Formula
Break-even = Refinancing Cost / Monthly Savings; Old EMI vs New EMI from standard EMI formulaExample Calculation
₹40L remaining, current 9.5%, new 8.5%, fees ₹30,000:
Old EMI vs New EMI; Monthly saving = difference
Monthly saving ≈ ₹2,400; Break-even ≈ 13 months
Frequently Asked Questions
When is refinancing worth it?
Refinancing makes sense if you plan to stay in the home longer than the break-even period (typically 12–24 months for Indian home loans) and the rate reduction is at least 0.5–1%.