Refinance calculator
Find out whether refinancing actually pays off — and how long until you break even on closing costs.
Current loan
New loan
Monthly saving
$336.07
Break-even
17.9 months (1.5 yrs)
Comparison
| Current | New | |
|---|---|---|
| Monthly payment | $1,925.88 | $1,589.81 |
| Remaining interest | $343,985.71 | $292,331.31 |
Lifetime saving (after closing costs)
$45,654.39
Total interest saved over the full loan life, minus what you pay in closing costs. Negative means refinancing costs you more over the long run — but you may still benefit from lower monthly payments.
How to read this
Monthly saving is your old payment minus your new payment. Break-even is how many months of those savings it takes to recover your closing costs. Lifetime saving is total interest saved over the new loan's life, minus the closing costs you paid upfront.
A refinance can save monthly but cost more lifetime if you stretch the term — pay attention to both numbers.