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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
New loan
At 7.25% over 27 years, P&I works out to $2,676/mo — a higher figure likely includes escrow, PMI, or HOA.
How this works
Break-even is the month your accumulated savings cover the closing costs. Net savings compares total cash outflow (payments + remaining balance) over your holding period — apples-to-apples even when terms differ. Refinancing pays off when break-even lands well before you sell.
Break-even
Break-even timeline
Interest comparison