Refinance Calculator
See how much you could save by refinancing your mortgage. Compare your current loan to a new one and find your break-even point.
Current Loan
$
%
yr
New Loan
%
2.0% of loan
$
Cost: $0
Refinance Summary
Current Payment
$2,120.34
/month
New Payment
$1,703.37
/month
Monthly Savings
+$416.97
Break-Even Point
1 year, 2 months
15 months to recoup $6,000 in closing costs
Total Interest
Current Remaining$336,101
New Full Term$313,212
Closing Costs$6,000
Total Cost Comparison
Current Loan$636,101
New Loan$619,212
Lifetime Savings+$16,889
Cost Over Time
5 Years
Current
$127,220
New
$108,202
10 Years
Current
$254,441
New
$210,404
Full Term (30yr)
Current
$636,101
New
$619,212
CurrentNew
Estimates are for informational purposes only. Actual rates, payments, and qualification requirements vary by lender, credit profile, and market conditions. Consult a licensed mortgage professional for accurate figures.