HomeRefinance Calculator

Refinance Calculator

See how much you could save by refinancing. Compare your current loan to a new rate and find your break-even point.

Loan Details

Current Loan

Remaining Balance
$350,000
$50,000$2,000,000
Current Interest Rate
7.500%
2.000%12.000%
Years Remaining
25 yr
1 yr30 yr

New Loan

New Interest Rate
Live rate6.500%
2.000%12.000%
New Loan Term
30 yr
10 yr30 yr

Closing Costs

Estimated Closing Costs
$5,000
$0$20,000

Typically 2–5% of the loan amount. Affects break-even calculation.

START MY REFINANCE →

This refinance looks like a strong move.

You'll break even in 14 months and save $0 over the life of the loan.

Current Payment

$2,586/mo

New Payment

$2,212/mo

Monthly Savings

$374/mo

Break-Even

14 months

Savings Summary

Monthly payment reduction$374
Annual savings$4,491
Estimated closing costs$5,000
Break-even point14 months
Lifetime savings (after closing costs)

Lifetime savings assumes you keep the new loan for its full term. Actual savings may vary based on prepayments, rate changes, and other factors.

Loan Balance Over Time

Compare how quickly each loan pays down

Yr 1Yr 6Yr 11Yr 16Yr 21Yr 26$0k$90k$180k$270k$360kBreak-even
  • Current Loan
  • New Loan

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