Refinance Savings Calculator
Compare your current mortgage to a potential refinance. See the new payment, break-even time on closing costs, and how much interest you could save over the life of the loan.
Current Loan
Balance and years remaining should reflect your current loan today, not the original loan size.
New Loan Terms
If you roll costs into the loan, your payment rises slightly, but you avoid paying them in cash upfront.
Monthly Payment Comparison
You lower your payment by about $380 per month.
That's roughly $4,560 in annual cash flow improvement.
Break-Even & Lifetime Interest
Lifetime savings compares interest remaining on the current loan versus total interest on the new loan (plus closing costs if paid upfront).
Quick Take
• At these settings, a refinance looks financially favorable based on lower payment and lower lifetime interest.
• You recover your closing costs in about 11 months (0.9 years) of monthly savings.
• Over the full term, you're projected to save roughly $77,319 in interest compared with staying put.
• Always check real lender quotes (APR, points, fees) and consider how long you realistically expect to stay in the home.