Calculate your potential savings, new monthly payments, and break-even point when refinancing your current mortgage
Enter your current loan details and new loan terms to see potential savings and break-even analysis
Refinancing can help you save money, access cash, or change your loan terms. Here's what you need to know to make the right decision.
If rates have dropped significantly since your original loan, you could save thousands.
Access your home's equity for renovations, debt consolidation, or investments.
Switch from 30-year to 15-year for faster payoff or extend terms to lower payments.
Switch from adjustable rate to fixed rate for payment stability and predictability.
If your home value has increased, you might have enough equity to eliminate PMI.
Pay off high-interest debt with lower-rate mortgage funds and simplify payments.
Break-Even Point: Consider how long you'll stay in the home vs. when you'll recover closing costs.
Closing Costs: Typically 2-5% of loan amount. Factor these into your savings calculations.
Credit Score: Better scores qualify for better rates. Check yours before applying.
Loan-to-Value: Higher equity often means better rates and more options.
Current Market: Rate trends, your lender's rates, and timing all matter.
Ready to explore refinancing? Our experienced team will guide you through every step of the process.
This calculator provides estimates only and should not be considered financial advice. Actual rates, payments, savings, and terms may vary based on your credit profile, debt-to-income ratio, loan-to-value ratio, property type, and current market conditions. Refinancing involves closing costs that should be factored into your decision. Extending your loan term may result in paying more interest over the life of the loan despite lower monthly payments. Please consult with our loan specialists for personalized analysis and current rate quotes.