Finance
Refinance comparison calculator
See whether a new rate and term actually save money after closing costs. The tool estimates the new payment, monthly difference, break-even time, and remaining interest on both paths.
Results
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How this calculator works
The new payment uses the same amortization formula as the mortgage calculator. Break-even months equal upfront cost (closing costs + points) divided by monthly payment savings. Extending the term can lower the payment while increasing lifetime interest — both figures are shown so you can see the tradeoff.
Not a lender quote or advice to refinance. Closing costs, credits, escrow, and whether costs are rolled into the loan change the real break-even. Confirm with a loan estimate.