Refinance Savings Calculator

Monthly savings and break-even point of refinancing your mortgage at a lower rate.

Remaining balance ($):

Current rate (%):

Years left:

New rate (%):

New term (years):

Closing costs ($):

How to use

Enter current and new loan details plus closing costs, then click Calculate.

When is refinancing worth it?

Rough rule: if you will stay past the break-even point (closing costs ÷ monthly savings) and the rate drops ~0.75%+, it usually pays.

What are typical closing costs?

2-5% of the loan amount — this calculator uses your entered costs for an exact break-even.

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