How this calculator works
We compare the remaining payments on your current loan with the payments and closing costs of a new fixed-rate loan.
Change any input to update the estimate instantly. Your entries never leave your device.
Refinance Calculator
See whether a new mortgage rate is worth the upfront cost.
Your inputs
Estimate details
⌁ All calculations run locally in your browser. No data is stored.
New monthly payment$2,106
Monthly savings$14
Break-even point426 months
Estimated lifetime savings$124,601
A lower payment does not always mean lower total cost. Compare both the break-even point and lifetime savings.
Frequently asked questions
What is the refinance break-even point?
It is the number of months of payment savings needed to recover your closing costs.
Should I refinance only for a lower rate?
Not necessarily. The new term, fees, how long you plan to stay, and lifetime interest all matter.
Are taxes and insurance included?
No. They usually do not change because of refinancing, so this comparison focuses on principal and interest.