Free calculator
Refinance calculator
Compare your current loan to a new one. See the monthly savings and how long it takes to recover your closing costs.
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yrs
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yrs
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You'd save each month
$340/mo
You'd recover the $5,000 closing costs in about 15 months (1.3 years).
Current monthly payment (P&I)$2,139
New monthly payment (P&I)$1,799
Monthly difference-$340
Lifetime interest: $418,571 on the current loan vs $352,515 on the new one (including closing costs). A longer new term can lower the payment but raise lifetime interest. Estimates only.
Should you actually pull the trigger?
A break-even number isn't the whole story. Refi Check pulls today's real rate for your credit profile and gives you a document-grade refinance, wait, or skip answer.