Refinance Calculator
Compare your current mortgage against a refinance offer, including break-even.
Monthly savings
$313.93
New payment
$1,798.65
Break-even
1 yr 8 mo
Lifetime savings
$30,962
Resetting to a longer term can lower the payment yet raise lifetime interest — check both numbers.
When refinancing wins
The classic threshold is a rate drop of 0.75–1%+ with plans to stay past the break-even point (closing costs ÷ monthly savings). Staying 5+ years with a 1.25% drop on a $300k balance typically saves tens of thousands.
The term-reset trap
Refinancing 27 remaining years into a fresh 30-year loan lowers the payment partly by adding three years of interest. To compare honestly, either match the new term to your remaining years or compare lifetime totals — this calculator shows both.
Related calculators
Mortgage Calculator
Estimate your monthly mortgage payment with taxes, insurance, and a full amortization schedule.
Loan Calculator
Work out payments, total interest, and payoff time for any fixed-rate loan.
Compound Interest Calculator
See how savings and investments grow with compounding over time.
Auto Loan Calculator
Estimate car payments including trade-in value, sales tax, and dealer fees.