Finance tool
Refinance Calculator
Compare your current mortgage with a new rate and term, including closing costs, monthly savings, break-even timing, and net interest savings.
Refinance assumptions
New monthly payment
$2,098
Current payment$2,120
Monthly savings$22
Break-even225 months
Interest savings after costs$132,568
A lower payment is not automatically a better refinance
Extending the term can lower a monthly payment while increasing total interest. This calculator reports both payment savings and remaining interest after estimated closing costs.
Get a lender's Loan Estimate for points, escrow, appraisal, title, and rate-lock costs before making a decision.
Related calculators
Explore more fast calculators from GetCalcly.