Free Tool

Should You Refinance? Find out instantly.

Drag the sliders and watch your savings update in real time.

Monthly Savings

+$285.74

Lifetime Saved

+$102,866.11

Your Loan Details

Current Loan Balance

$50k$1.5M

Current Interest Rate

1%15%

New Proposed Rate

1%15%

Remaining Term

yrs

New Loan Term

yrs

Closing Costs

Refinancing looks beneficial

Save $285.74/mo · $102,866.11 lifetime

Current

$1,896.20

New

$1,610.46

You Save

$285.74

Current Total

$382,633.47

New Total

$279,767.35

Lifetime Saved

$102,866.11

Break-Even Point

18months(1 yr 6 mo)to recover $5,000.00 in closing costs

Estimates only. Does not include taxes, insurance, or PMI. Consult a licensed mortgage professional before making decisions.

FAQ

Answers to the most common questions about mortgage refinancing, rates, and break-even math.