There are times when a person will want to refinance his or her mortgage payments for a variety of reasons. Some of these reasons include a new income, wanting to pay more per month to get the mortgage paid off more quickly, or even moving to a different house. The use of a mortgage refinancing calculator, especially a free, online one, will allow him or her to calculate out the new finanical payments. From there, he or she can decide whether it is worth it to refinance his or her mortgage payments. These calculators can also allow a person to make comparisons between different refinancing options.