Refinance Calculator
See if refinancing your mortgage is worth it — payment savings, break-even, and interest saved.
ADVERTISEMENT
Your Results
Current payment$2,120.34
New payment$1,842.26
Monthly savings$278.08
Break-even22 months
Total interest saved$83,422.53
Estimate only. Assumes same remaining term and ignores taxes/insurance.
Frequently Asked Questions
When does refinancing make sense?
Typically when you can lower your rate enough to recover closing costs within the time you plan to keep the home — usually a 0.5-1% rate drop or better.
What are typical closing costs?
Lender fees, appraisal, title, and recording fees usually total 2-6% of the loan amount. Include them in your break-even math.
Related Calculators
ADVERTISEMENT