Refinance Calculator
Understand the true costs and benefits of refinancing your mortgage
Loan Info
Current Mortgage
$
%
Monthly Payment$2,418
New Loan Terms
%
years
$
1 point = 1% of loan amount.
New Monthly Payment$1,987
Results
Current Payment
$2,418
keep current mortgage
Refinance Payment
$1,987
new monthly payment
Break-even
1 years, 8 months
to recover upfront costs
Scenario Analysis
Select Time Horizon
Keep Current
Cumulative payment at selected horizon
$290,183
Refinance
Cumulative payment + upfront costs
$246,971
Detailed Breakdown
| Keep Current | Refinance | |
|---|---|---|
| Monthly Payment | $2,418 | $1,987 |
| Cumulative Payment | $290,183 | $238,471 |
| Cumulative Interest | $213,453 | $177,365 |
| Remaining Balance | $273,270 | $288,894 |
| Upfront Costs | — | $8,500 |
Comparison Result
Monthly delta: $431
Disclaimer
Mortgage payments may differ slightly per month across calculators due to rounding and implementation differences. Focus on total cumulative cost when comparing options.