Mortgage & Home
Refinance Calculator
Compare your current mortgage with a new refinanced loan to calculate monthly savings, total interest savings, and break-even point on closing costs.
New Monthly Payment
$1,724.01
Current Payment
$2,018.05
Monthly Savings
$294.05
Break-Even
1 yr 6 mo
Total Interest Savings
$28,206.80
New Total Interest
$340,642.94
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Payment Breakdown
Principal
$0.00 (0.0%)
Interest
$340,642.94 (100.0%)
How This Calculator Works
Compares remaining payments on your current loan with the new refinanced loan. Break-even is calculated by dividing closing costs by the monthly savings. Total savings accounts for both the rate difference and any term change.
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Disclaimer: This calculator provides estimates for informational purposes only. Results are based on the information you provide and standard financial formulas. Actual loan terms, rates, and payments may vary. This is not financial advice. Please consult with a qualified financial professional and verify all figures with your lender before making borrowing decisions.