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Refinance planning

Refinance savings calculator

Compare your current payment with a new loan and estimate the break-even point.

Refinance planning

Your numbers

Adjust the assumptions below. Results are estimates in USD.

Use your current principal-and-interest payment for a like-for-like comparison. Current interest rate is for reference; savings use the entered payment. Term savings multiply today’s payment difference across the new term and exclude timing or tax effects.

How this works: new payment uses the new rate and term. Break-even equals net closing cost divided by monthly savings.

This is an estimate only and not a loan approval or commitment to lend.

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How refinance savings are estimated

Enter your current loan balance, current payment, new rate, new term, estimated closing costs, and lender credit.

The calculator estimates a new principal-and-interest payment and compares it with your current monthly payment.

Break-even is estimated by dividing net closing cost by monthly savings. Cash-out refinances, escrow changes, and tax effects require a personalized review.

Frequently asked questions

What is refinance break-even?

Break-even is the estimated time needed for monthly savings to recover the net closing cost.

Does this include cash-out refinance scenarios?

Not fully. This page focuses on rate/payment savings. Cash-out scenarios should be reviewed with a loan officer.

Should I refinance if the payment is lower?

Not always. Consider closing costs, how long you will keep the loan, loan term reset, cash-out needs, and your broader financial plan.

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