Refinance Savings Calculator
Refinance Savings Calculator
Compare your current mortgage to a new rate and see how much you could save.
Current Loan
$
%
New Loan
%
$
Monthly Savings
$309
$2,407 → $2,098
Break-Even Point
1y 5m
Recoup $5,000 closing costs
Total Interest Saved
$24,548
Over life of new loan vs. remaining term
New Monthly Payment
$2,098
6% for 30 years
How to Use This Calculator
Enter your current loan balance, existing interest rate, and the new rate you qualify for, along with estimated closing costs. The calculator shows your monthly savings and how many months it takes to break even on your refinance costs.