Refinance Calculator
Compare your current mortgage to a new rate and find your break-even point.
Current Loan
New Loan
New Monthly Payment
$1,539.29
+$208.71/mo savings
Find the Best Refi Rates
Get lender comparisons and rate alerts for your balance.
Frequently Asked Questions
What is the break-even point for refinancing?
The break-even point is when your cumulative monthly savings equal the closing costs. Break-even months = closing costs / monthly savings. If you plan to stay in your home longer than this, refinancing typically makes financial sense.
How much can I save by refinancing my mortgage?
Savings depend on the rate difference, remaining loan balance, and new term. Even a 0.5–1% rate reduction can save tens of thousands over the life of a loan. Use this calculator to see your exact projected savings.
What are typical mortgage refinancing closing costs?
Refinancing closing costs typically range from 2–5% of the loan amount, often $2,000–$6,000. Common fees include origination fees, appraisal, title insurance, and prepaid interest.