Mortgage Refinance Calculator
Calculate refinancing break-even analysis and potential savings on your mortgage. Determine if refinancing makes financial sense with detailed comparisons and recommendations.
Current Mortgage
Enter your existing loan details
Monthly Payment:$2,025.62
Remaining Interest:$307,686.45
New Mortgage
Enter your proposed refinance terms
Monthly Payment:$1,637.31
Total Interest:$284,430.14
Refinancing Analysis
Break-even point and savings comparison
Refinancing Recommended
Refinancing is highly recommended! You'll break even in 13 months and save $18256.30 over the life of the loan.
Monthly Savings
+$388.32
Break-Even Point
13 mo
(1.1 years)
Interest Savings
+$23,256.30
Lifetime Savings
+$18,256.30
After closing costs
Metric
Current Loan
New Loan
Monthly Payment
$2,025.62
$1,637.31
Total Interest
$307,686.45
$284,430.14
Total Payment
$607,686.45
$589,430.14
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Break-Even Analysis
Calculate exactly when you will recover your closing costs through monthly savings.
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Total Savings
See your lifetime savings including monthly payment reduction and total interest saved.
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Smart Recommendations
Get personalized advice on whether refinancing makes financial sense for your situation.
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