Refinance Calculator
Compare your current mortgage with a refinance offer to see monthly savings and break-even.
Monthly savings
$344.41
Breakdown
- Current payment
- $1,891
- New payment
- $1,546
- Break-even (months)
- 15
Last updated:
FAQ
When does refinancing make sense?
When the monthly savings repay the closing costs before you move or sell — commonly quoted as a break-even under two to three years.
Is a lower payment always a win?
Not if you restart a 30-year term; you may pay less monthly but more interest over the life of the loan.
What are typical closing costs?
Refinances usually cost 2–5% of the loan amount in fees, appraisal, and title charges.
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