Finance Tools
Mortgage Rate Change Impact Calculator
Estimate how a mortgage interest rate increase or decrease changes your monthly payment and total interest.
Use this calculator to estimate how changing your mortgage interest rate affects your monthly payment and total interest paid over the life of the loan.
How to use this mortgage rate change impact calculator
- Enter your loan amount and term (years).
- Enter your current interest rate.
- Enter the new interest rate (after an increase or decrease).
- Click Calculate to see the monthly payment change and total interest difference.
Example
Suppose you want to see how a rate change affects your mortgage payment.
- Loan amount: $300,000, term: 30 years
- Current rate: 7.00%
- New rate: 6.50%
- This tool shows monthly payment change and lifetime interest difference.
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