Property and Real Estate - United States

    Refinance Calculator

    Compare your current mortgage vs refinance scenario to estimate payment change and break-even timing.

    Tax year: 2026Last updated: May 23, 2026Break-even analysisPayment deltaInterest impact over remaining term
    Inputs

    Configure your scenario

    Compare current vs refinance mortgage to estimate savings.

    Monthly savings

    $301

    Break-even

    28.3 mo

    Net benefit

    $13,602

    Breakdown

    Detailed estimate

    Current monthly PI
    $2,394
    New monthly PI
    $2,093
    Monthly savings
    $301
    Break-even
    28.3 months
    Current interest remaining
    $435,740
    New interest remaining
    $413,638
    Net lifetime benefit after costs
    $13,602
    FAQ

    Refinance - quick answers

    What is break-even month?+

    Break-even estimates how long monthly savings take to recover refinance closing costs.

    Why can monthly payment drop but total interest rise?+

    Extending loan term can reduce monthly payment while increasing total interest paid over time.

    Sources & Act Reference

    Refinance model references

    Monthly savings approach

    Payment comparison helps estimate short-run cash-flow impact from refinance.

    Term sensitivity

    Interest outcomes depend on both APR change and new loan term length.

    Rule Trace

    Applied rule and official references

    Applied rule: break-even months = refinance costs / monthly savings

    Compliance checklist

    Validate lender APR, fees, prepaid items, and whether costs are paid upfront or financed.

    Smart Insight

    Estimated refinance break-even is about 28.3 months.