Mortgage Refinance Calculator

This Mortgage Refinance Calculator helps you determine whether refinancing your existing home loan can reduce EMI, save interest, and generate long-term financial benefits.

What Is Mortgage Refinancing?

Mortgage refinancing replaces your existing home loan with a new loan, typically at a lower interest rate. The goal is to reduce EMI, shorten tenure, or decrease total interest paid.

How This Mortgage Refinance Calculator Works

This calculator compares your current loan cost with a refinanced loan, calculates interest savings, subtracts refinancing costs, and shows whether refinancing is financially beneficial.

When Should You Consider Refinancing?

  • Interest rates have dropped significantly
  • You have a long remaining loan tenure
  • Your credit profile has improved
  • You want to reduce monthly EMI

Benefits of Mortgage Refinancing

  • Lower monthly payments
  • Reduced total interest burden
  • Improved cash flow
  • Flexible loan restructuring

Frequently Asked Questions

Refinancing is worth it if the interest savings exceed the refinancing cost.
Yes. A lower interest rate usually reduces EMI or loan tenure.
If refinancing costs are high or tenure is short, savings may be limited.
You can refinance multiple times, but each time should provide net savings.