Mortgage Refinance Calculator
Compare your current mortgage with a refinanced loan to estimate monthly savings and how long it takes to break even on closing costs.
Compare Current vs New Loan
Current Monthly Payment$2,023.86
New Monthly Payment$1,702.72
Monthly Savings$321.14
You would break even on closing costs in approximately 13 months.
Refinance Calculator FAQs
How accurate is this refinance calculator?
This calculator provides estimates based on standard loan formulas. Actual refinance terms may vary.
Does this include closing costs?
Yes. You can include estimated closing costs to see how they affect savings and break-even time.
How is break-even calculated?
Closing costs divided by estimated monthly savings.
Disclaimer: This calculator provides estimates only and does not constitute financial advice.