Refinance Savings Calculator
See if refinancing makes financial sense for you
Current Loan
Current Loan Balance
Current Rate (%)
Remaining Term (years)
Current Monthly P&I
New Loan
New Rate (%)
6.250%
New Term
30 years
15 years
20 years
Estimated Closing Costs
Typically 1.5-3% of loan amount
Monthly Savings
—
—
Current Payment
—
New Payment
—
Total Savings (Life of Loan)
—
Break-Even Point
Should You Refinance?
Break-even
— If you plan to stay longer than the break-even period, refinancing likely makes sense.
Rate drop rule
— A rate reduction of 0.5%+ is often worth exploring.
Cash-out?
— This calculator covers rate-and-term refinances. For cash-out,
talk to Mike
.
📈 Monitor Rates
Start Refinance
Talk to Mike