Refinance Calculator
See if refinancing makes sense for you and calculate your potential savings
Current Loan
$
%
$
New Loan
%
$
$
Consider Your Options
New Monthly Payment
$0
Higher by $0/month
Current Payment$2,237
Total Interest Saved$0
Break-Even Point0 months
Closing Costs$5,000
Consider waiting for better rates or negotiating lower closing costs to improve your savings.
When Should You Refinance?
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Good Times to Refinance
- • Rates drop 0.5-1% or more
- • Your credit score improved
- • You want to shorten loan term
- • Need cash for home improvements
- • Eliminate PMI with 20% equity
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Times to Wait
- • Planning to move within 2-3 years
- • Break-even point is too long
- • Closing costs are too high
- • Your credit score declined
- • Already far into current loan
Ready to Refinance?
Get a personalized rate quote and see how much you can save