Refinance Calculator
Compare your current loan with refinancing options to see potential savings
Save $372/month
Break even in 22 months
Lifetime savings: -$29,206
Current Loan Details
Enter your existing loan information
7.50%
Current LTV Ratio70.0%
Loan Comparison
| Current Loan | New Loan | Difference | |
|---|---|---|---|
| Interest Rate | 7.50% | 6.50% | -1.00% |
| Loan Term | 25 years | 30 years | +5 years |
| Monthly Payment | $2,584 | $2,212 | -$372 |
| Total Interest | $425,200 | $446,406 | +$21,206 |
Refinancing Recommended
Based on your inputs, refinancing could save you money
Key Metrics
Monthly Savings
+$372Break-Even Point
22 monthsLifetime Savings
-$29,206Total Closing Costs
$8,000When to Refinance
- • Rate drop of 0.5% or more
- • Break-even within 3-5 years
- • Plan to keep property long-term
- • Improved credit score