Will refinancing actually save you money? Get monthly savings, break-even month, and total lifetime savings instantly — over the years you actually plan to keep the loan.
Current loan
$
%
$
yrs
Math says P&I should be $2,676/mo at 7.25% / 27yr / $380,000. — your entered figure may include escrow/PMI/HOA.
New loan
%
yrs
$
yrs
Sell, payoff, or rate-reset horizon
Refinance — strong case
Monthly savings
$682
$8,189 / year
Break-even
10 months
New payment
$2,218
Net savings @ 7yr
$31,480
Interest comparison
Interest on current loan (full remaining)$487,004
Interest on new loan + closing (full term)$424,828
Net savings over 7-year holdapples-to-apples cash outflow incl. residual balance$31,480
Get matched with a lender
We'll route you to vetted lenders with tri-state coverage.
Refinance Break-Even Calculator — Will Refinancing Save Money?