Refinance Calculator
Compare your current mortgage to a refinance. Enter your current balance, rate, and payment, then the new rate and term. See new monthly payment, monthly savings, break-even point, and lifetime savings.
Refinance Calculator
Should You Refinance?
Enter your current loan balance, interest rate, and monthly payment (principal & interest only). Then enter the new rate and term you’re considering, plus closing costs. The calculator estimates how many months until you break even and your total lifetime savings.
Current Loan
$
%
$
Principal & interest only
New Loan
%
$
Fees to refinance (lender + third-party)
Refinance Comparison
New Monthly Payment
$1,499
Principal & interest at 6% over 30 years
Monthly Savings
$251
Amount saved each month vs current payment
Break-Even
20 months
Months until closing costs are recovered by savings
Lifetime Savings
-$3,845
Total paid on current loan (est. 309 months left) vs new loan + closing costs
Refinance Calculator Report
February 10, 2026
Inputs
Current Loan Balance: $250,000
Current Rate: 7%
Current Monthly Payment: $1,750
New Rate: 6%
New Loan Term: 30 years
Closing Costs: $5,000
| REFINANCE COMPARISON | |
|---|---|
| New Monthly Payment | $1,499 |
| Monthly Savings | $251 |
| Break-Even | 20 months |
| Lifetime Savings | -$3,845 |
| Period | Current Loan Total | New Loan Total | Difference |
|---|---|---|---|
| Start | $0 | $5,000 | $5,000 more |
| 1 year | $21,000 | $22,987 | $1,987 more |
| 2 years | $42,000 | $40,973 | $1,027 saved |
| 3 years | $63,000 | $58,960 | $4,040 saved |
| 4 years | $84,000 | $76,946 | $7,054 saved |
| 5 years | $105,000 | $94,933 | $10,067 saved |
| 6 years | $126,000 | $112,919 | $13,081 saved |
| 7 years | $147,000 | $130,906 | $16,094 saved |
| 8 years | $168,000 | $148,892 | $19,108 saved |
| 9 years | $189,000 | $166,879 | $22,121 saved |
| 10 years | $210,000 | $184,865 | $25,135 saved |
| 11 years | $231,000 | $202,852 | $28,148 saved |
| 12 years | $252,000 | $220,838 | $31,162 saved |
| 13 years | $273,000 | $238,825 | $34,175 saved |
| 14 years | $294,000 | $256,811 | $37,189 saved |
| 15 years | $315,000 | $274,798 | $40,202 saved |
| 16 years | $336,000 | $292,784 | $43,216 saved |
| 17 years | $357,000 | $310,771 | $46,229 saved |
| 18 years | $378,000 | $328,757 | $49,243 saved |
| 19 years | $399,000 | $346,744 | $52,256 saved |
| 20 years | $420,000 | $364,730 | $55,270 saved |
| 21 years | $441,000 | $382,717 | $58,283 saved |
| 22 years | $462,000 | $400,703 | $61,297 saved |
| 23 years | $483,000 | $418,690 | $64,310 saved |
| 24 years | $504,000 | $436,676 | $67,324 saved |
| 25 years | $525,000 | $454,663 | $70,337 saved |
| 26 years | $540,750 | $472,649 | $68,101 saved |
| 27 years | $540,750 | $490,636 | $50,114 saved |
| 28 years | $540,750 | $508,622 | $32,128 saved |
| 29 years | $540,750 | $526,609 | $14,141 saved |
| 30 years | $540,750 | $544,595 | $3,845 more |
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Cumulative Cost: Current vs New Loan
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