Your current mortgage against a fresh refinance offer. One breakeven month, and an honest look at total interest.
Defaults to a fresh 30-year term — what most refinances actually reset you to. Switch to "Match remaining term" to isolate just the rate change.
We divide your closing costs by your monthly savings (current payment minus new payment) to estimate how many months it takes to recoup refinancing costs.
Leave the “actual monthly payment” field blank and we’ll estimate it from your original loan amount, rate, and term.
No — this calculates principal and interest only. Your actual mortgage payment (with escrow) will typically be higher.