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Refinance Comparison
Refinance Comparison Calculator
Compare your current loan to potential refinance options. Calculate monthly savings, break-even point, and total interest savings over the life of the loan.
Current Loan
$
%
$
$
New Loan (Refinance)
$
%
$
$
$
Cash-Out Refinance (Optional)
$
Additional cash you want to pull from your equity
Break-Even Point
The break-even point is when your monthly savings equal the closing costs paid. If you plan to keep the property longer than the break-even period, refinancing typically makes sense.
Comparison Results
Current Payment
$2,712
/month
New Payment
$2,388
/month
Monthly Savings
$325
You save
Moderate Recommendation
Moderate case for refinancing. Good savings potential if you plan to stay long-term.
Break-Even Point25 months
Lifetime Interest Savings$64,373
Net Savings (after closing)$56,373
New Total Loan Amount$280,000
Total Cost Comparison
Current Loan Total$911,398
New Loan Total$867,625