True Blue Lending

Residential · Calculator

Refinance Analyzer

Side-by-side comparison of your current loan vs. a refinance — with the honest break-even math and a clear verdict.

Current Loan Details

Step 1

Used to calculate today's balance from the amortization schedule.

Set to $0 if your loan has no MI.

Today's Estimated Balance$385,532Auto-calculated from 3 yr 5 mo of payments. Will auto-populate the new loan amount below — override if your statement shows different.

Optional. Leave at $0 to use the auto-calculated balance.

Proposed Refinance

Step 2

Auto-populated from your current balance. Edit to add cash-out or modify.

Current Loan

Today
Monthly Payment$2,728.717.25% · 30-year · 41 payments made
Interest Rate7.25%
Remaining Balance$385,532
Remaining Interest$484,925
Total Interest Over Life$582,334
Projected Payoff DateJanuary 2053

Proposed Loan

Standard Repayment
New Monthly Payment$2,311.466% · 30-year fresh start
Interest Rate6%
New Loan Amount$385,532
Monthly Savings$417.25
Annual Savings$5,007
Lifetime Interest Savings$38,332
Total Interest Over Life$446,593
Projected Payoff DateJune 2056

Accelerated Plan

Pay the Old Payment
Accelerated Monthly Payment$2,728.71Same payment you're making today — applied to the lower-rate new loan.
Effective Rate4.10%By keeping the old payment on a 30-year loan, you achieve the equivalent of a 4.10% rate over the new term — 1.90 pts lower than the proposed 6%.
Interest Rate (proposed)6%
Paid Off Sooner6 years 1 month sooner
Lifetime Interest Savings$199,890
Total Interest Over Life$285,035
Projected Payoff DateDecember 2046
The pitch: the borrower's monthly outlay doesn't change, but each dollar works harder against the new lower rate — they pay off the loan 6 years 1 month sooner than just continuing with their current loan, and save $199,890 in lifetime interest.

Frequently asked

About this calculator.

When does a refinance actually make sense?

When the break-even period is shorter than how long you plan to keep the loan. If your closing costs are $6,000 and you save $200/month, that's 30 months — fine if you'll be in the home 5+ years, bad if you're moving in 2. The "verdict" tier above factors that in.

Should I roll closing costs into the loan?

Often yes. It preserves cash and the break-even math still works because the rolled-in costs amortize at the new lower rate. The trade-off is a slightly higher loan balance and slightly higher lifetime interest — but if the monthly savings are real, the math usually still wins.

What is "no-cost" refinance?

A no-cost refi means the lender absorbs the closing costs — usually by giving you a slightly higher rate (a "lender credit"). It's a real option when you don't plan to keep the loan long enough to recoup traditional closing costs. We'll quote both side-by-side.

Why does the new loan show MORE lifetime interest sometimes?

Because resetting from a 28-year remaining term to a fresh 30-year term spreads the loan across more total payments — even at a lower rate, the total dollars of interest can rise. The calculator shows this honestly. Solutions: refinance to a 15- or 20-year term, or keep paying your old payment amount on the new loan (excess goes to principal).

How much do refinances cost?

Typically 1.5%–3% of the loan amount, depending on your state, lender credits applied, and whether you buy points. The default $6,000 above is reasonable for a $320k loan in most of the US. We quote line-item closing costs upfront — no surprises at the table.

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Want a real quote

Same-day refi scenarios.

Send your most recent mortgage statement and we'll come back with break-even math against today's actual rate sheet — no credit pull, no obligation.

Apply NowBook a consultation

Prefer to talk first? Call (305) 703-9001