Refinance Calculator

Should you refinance? Compare monthly payments, see how long to break even on closing costs, and calculate lifetime savings.

Current Balance

Current Rate

Remaining Term

years

Home Value

New Rate

New Term

years

Closing Costs

Cash Out

Additional cash to borrow

Current Payment

$1,902.90

New Payment

$1,678.74

Monthly Savings

$224.16

Break-Even

23 mo

New Loan Amount$280,000

Loan-to-Value (LTV)70.0%

Current Remaining Interest$359,376

New Total Interest$324,347

Lifetime Savings (incl. closing costs)$30,029