🔁 Free Financial Tool

Mortgage Refinance

See your break-even point, monthly savings and get a personalised Should I Refinance? verdict instantly.

Current Mortgage

Remaining Loan Balance $250,000

$10K$2M

Current Interest Rate 7.50%

1%15%

Remaining Term 25 years

years

1 yr30 yr

Current Monthly Payment (P+I only)

New Refinance Loan

New Interest Rate 6.25%

1%15%

New Loan Term

Closing Costs ~2-3% of loan

Cash-Out Amount (optional)

How Long Will You Stay? 7 years

years

1 yr30 yr

Refinance Analysis

Monthly Savings

Difference in monthly P+I payment

Current Payment

New Payment

0 mo

Break-Even Point

Total Savings (life)

Savings Over Time

Cost of Refinancing

Savings by Stay Date

Net Benefit by Stay Date

Rate Comparison

Current Rate

New Rate

✅

Should I Refinance?

Calculating...

Break-Even Timeline

Day 1 — Pay Closing Costs

You pay $5,000 in closing costs to refinance.

Month X — Break-Even

Monthly savings offset closing costs.

Year X — Your Stay Date

Total net benefit at your planned move date.

Loan Payoff

Lifetime total interest savings.

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The 1% Rule: A refinance generally makes sense if you can reduce your interest rate by at least 1% AND you plan to stay in the home long enough to break even on closing costs. Use the break-even point above to check if your timeline justifies the cost.

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