Financial Planning
RefinanceCalculator
See what refinancing could save you each month, and how long it takes to earn back the closing costs.
You Could Save
$558/mo
lower monthly payment after refinancing
$2,398
New Payment
11 mo
Break-Even
Compare Your Loan
Enter your current loan and the new terms you are considering
Your Current Loan
What you have now
$50K$2M
Current payment: $2,956/mo
Your New Loan
The terms you are considering
Lender fees, appraisal, title, and escrow to refinance.
Refinancing Looks Worth It
You break even in 11 mo and save every month after that
$2,398
New Payment
$558
Monthly Savings
11 mo
Break-Even
$23,437
Interest Saved
Current vs New
Current Payment$2,956/mo
New Payment$2,398/mo
Monthly difference-$558
The Details
Closing Costs$6,000
Break-Even Point11 mo
Interest Left on Current Loan$486,789
Interest on New Loan$463,353
Lifetime Savings (after costs)$17,437
Estimates only. A longer new term can lower your payment but add total interest. Your real rate and costs depend on your lender and credit. A Topfind agent can connect you with trusted lenders.
Thinking About Your Options?
Refinance, tap your equity, or sell and move up. See what your home is worth today.