Refinance Analysis
Compare your current mortgage vs a refinance option.
Monthly savings
$0
Breakeven: 0 months
Current payment
$0
New payment
$0
Total interest saved
$0
Net savings after costs
$0
Breakeven period
0 mo
5-year savings
$0
Worked example
With the default inputs shown below, this calculator returns the following results:
| Input | Value |
|---|---|
| Current loan balance ($) | $300,000 |
| Current rate (%) | 7% |
| New rate (%) | 5.5% |
| Closing costs ($) | $6,000 |
| Remaining term (years) | 25 |
| Result | Value |
|---|---|
| Monthly savings | $278/mo |
| Current payment | $2,120 |
| New payment | $1,842 |
| Total interest saved | $83,423 |
| Net savings after costs | $77,423 |
| Breakeven period | 22 mo |
Values shown are produced by this page in your browser; change any input to update them.
How to use the Refinance Analysis
- Current loan balance ($) — default $300,000
- Current rate (%) — default 7%
- New rate (%) — default 5.5%
- Closing costs ($) — default $6,000
- Remaining term (years) — default 25
- Press Calculate to update the results instantly.