Disclaimer
Estimates only
The calculator produces planning estimates based on standard amortization math and the inputs you provide. Actual results from any refinance will differ because of:
- Lender-specific fees, credits, and rate structures that vary day to day
- Discount points, lender credits, and prepaid interest that depend on the exact closing date
- Escrow requirements, property taxes, and homeowners insurance premiums specific to your property
- Private mortgage insurance (PMI) rates that vary by insurer and credit profile
- State-level recording fees, transfer taxes, and title insurance pricing
- Your personal tax situation, including how the mortgage interest deduction applies to your return
Treat the calculator output as a shape-of-the-decision tool, not as a binding quote. Always pull a real Loan Estimate from at least three lenders and compare page 2 line by line.
Rates change daily
Mortgage rates move with bond markets, Federal Reserve policy, and lender risk appetite. The rate you see on a Tuesday afternoon may be different by Wednesday morning. Freddie Mac's PMMS weekly survey publishes national average rates every Thursday. Use it as a market benchmark, not as a lender quote.
Closing costs are estimates
The CFPB cites 2 to 5 percent of the new loan amount as typical closing costs. Your actual costs depend on the lender, the loan type, your state, your credit profile, and whether you buy down the rate with discount points. The only binding closing cost document is the Closing Disclosure, which lenders must provide at least three business days before closing. Compare it to your Loan Estimate line by line.
Not a replacement for a licensed professional
Mortgage origination in the United States is regulated under the SAFE Act and state-level laws. Licensed Mortgage Loan Originators (MLOs) must hold an NMLS ID and meet continuing education requirements. RefiCalc is not an MLO, a mortgage broker, or a lender. We do not originate loans, collect borrower information, or receive compensation from lenders.
If you need personalized mortgage advice, contact a licensed MLO at a bank, credit union, or mortgage broker. The NMLS Consumer Access database lets you verify any MLO's license.
Tax treatment is personal
The IRS Publication 936 describes how mortgage interest is deducted, including the rules around refinancing, discount points, and cash-out proceeds. Deductibility depends on your filing status, whether you itemize, and the purpose of any cash-out funds. Consult a tax professional. Do not rely on calculator output for tax planning.
No affiliate relationships with lenders
RefiCalc does not accept referral fees, lead-gen payments, or affiliate commissions from mortgage lenders. We do not sell user data. We may display general display advertising to fund hosting, and we will label it clearly as advertising.
Accuracy
We work to keep formulas, citations, and guidance accurate. If you spot an error or the math looks off vs another reputable calculator (Bankrate, NerdWallet), let us know and we will investigate.
Authoritative sources
For primary-source information on mortgages, refinancing, and consumer protection: