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
Auto-derived: $2,281.18/mo
New Loan
Set to $0 for rate-and-term refi.
Verdict
Strong refi candidate
Break-even under 3 years and meaningful monthly savings.
Current vs. New
Current
$2,281.18/mo
7.5% · 28y left
Balance $320,000
New
$1,954.53/mo
6% · 30y term
Loan $326,000
The Math
Lifetime
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.
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.
Prefer to talk first? Call (707) 583-3666