Mortgage calculator
Refinance Calculator
Compare your current loan to a new one. We'll show your new monthly payment, how much you save each month, and the month your savings pay back the closing costs.
Your numbers
Typically 2% to 3% of the loan
Monthly savings
$263
$1,802 today vs. $1,539 after refinancing
Break-even point
1 yr 7 mo
Time for savings to repay closing costs
Lifetime interest difference
$24,649
Saved after closing costs
Interest left on current loan
$333,794
Interest on new loan
$304,145
A lower payment doesn’t always mean a cheaper loan. Resetting to a new 30-year term can raise total interest even when the rate drops. Compare both figures above, and if you plan to move before the break-even month, refinancing may not pay off. Get a refinance quote and we’ll run your exact numbers.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment or financial advice. We cannot guarantee their accuracy or applicability to your circumstances. Results are estimates only and are not a loan offer or commitment to lend.
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