Free calculator
Refinance Calculator
Refinancing only makes sense if the interest savings outrun the closing costs and any extension of your term. This calculator runs the break-even and shows lifetime savings.
New monthly payment
$547
Monthly savings
$59
Lifetime savings
$2,849
Break-even
0 mo
Old payment
$607
Old interest remaining
$7,122
Watch the term. Refinancing into a longer term can drop the monthly payment even when the new rate is higher — but you'll pay more interest overall. Lifetime savings (above) is the number that actually matters.
This calculator provides general loan projections only and is not individualized financial advice or a loan offer. Confirm actual APR, fees, and terms with your lender before borrowing.